Market Turmoil: Nvidia Shines Amid Economic Shifts
U.S. stocks fluctuated as Nvidia's shares rose post-earnings. Trump's tariffs were blocked but later reinstated. Salesforce dipped despite profit forecasts. Nvidia's AI chip sales soared, mitigating some market concerns. Boeing's production plans boosted its stock, while Best Buy's outlook affected its performance due to fears over tariffs.
Amidst fluctuating U.S. stock conditions, Nvidia's shares surged after posting strong quarterly sales, buoyed by heightened demand for AI chips ahead of impending U.S. export constraints to China. Despite optimism, Nvidia anticipates a revenue drop due to these restrictions.
A court initially blocked President Trump's tariffs, but a subsequent appeal reinstated them quickly. Salesforce saw a 5% decline in its share value, although it raised its profit and revenue forecasts. Best Buy's stock plummeted 8% following a revised, less optimistic financial outlook.
Boeing's shares increased by 3.3% following its announcement to ramp up 737 MAX production. Meanwhile, economic data indicated a 0.2% contraction in the first-quarter GDP. Market experts reflect that current conditions don't encourage significant investment actions despite some promising corporate earnings.
(With inputs from agencies.)
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