US stocks edged higher on Thursday amid a mix of earnings optimism and tariff uncertainty. The S&P 500 and Nasdaq each rose 0.4%, while the Dow gained 117 points, supported by Nvidia's strong report and upbeat corporate news such as Boeing's production plans.
Nvidia shares rose 3.2% after beating quarterly sales estimates, boosted by demand for AI chips despite warnings that U.S. export curbs on China could shave $8 billion off next quarter's sales. However, market gains were capped by the ongoing legal battle over President Donald Trump's tariffs.
A federal court initially blocked most of the tariffs, ruling they were unlawfully imposed, but a U.S. appeals court reinstated them Thursday afternoon, adding to uncertainty over trade policy. Best Buy cut its full-year guidance, citing economic concerns about the tariffs, which weighed on its shares. On the data front, U.S. GDP contracted 0.2% in the first quarter, slightly lower than initially estimated. (alg)
Source: Trading Economics
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