Wall Street Surges as Trade Court Blocks Tariffs and Nvidia Revenue Soars

Wall Street futures saw a notable rise on Thursday following a U.S. trade court decision that blocked most of President Donald Trump's proposed tariffs. This legal victory coincided with Nvidia's impressive earnings report, leading to a significant increase in market optimism.

Nvidia saw a jump of over 6% in premarket trading after it reported a substantial 69% growth in quarterly sales. This growth was propelled by customers hoarding AI chips ahead of anticipated export restrictions to China. Still, the company cautioned that new restrictions could result in an $8 billion sales shortfall for the current quarter.

As Nvidia's results radiated through the sector, other chipmakers like Advanced Micro Devices saw their stocks rise. The VanEck Semiconductor ETF also advanced by 3.2%. Meanwhile, Wall Street gains were further supported as the court's decision to invalidate Trump-era levies softened trade tensions, promising positive developments for both the U.S. and the global economy.

(With inputs from agencies.)