Nvidia and U.S. Stocks Show Resilience Amid Tariff Challenges
U.S. stocks rose slightly on Thursday, boosted by Nvidia after positive sales results lifted market sentiment. Meanwhile, a court ruling reinstated tariffs imposed by President Trump. Analysts see the rulings mainly as headlines, noting that prior cuts were already made. Optimism is fueled by corporate earnings updates.
U.S. stocks edged slightly higher on Thursday, with notable gains in Nvidia shares following its strong quarterly results. Investors, meanwhile, processed a court ruling supporting the reinstatement of President Donald Trump's significant tariffs, a decision arriving just after they had been temporarily blocked by a trade court.
Despite an initial surge, indexes cooled as the day wore on. Salesforce shares dropped even as the company increased revenue and profit forecasts, highlighting a mixed reaction to tech sector news. Commenting on the tariff reinstatement, Adam Sarhan, CEO of 50 Park Investments, emphasized that many of these tariffs had been scaled back by Trump already.
Nvidia's positive impact on market sentiment was rooted in its announcement of robust sales driven by demand for AI chips in anticipation of U.S. export restrictions to China. Still, the company cautioned about an $8 billion hit to upcoming sales due to new restrictions. Investors remain cautiously optimistic about earnings and the overall market outlook.
(With inputs from agencies.)
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