US Stocks Rise on Nvidia Results, Investors Weigh Tariffs and Economic Data

Market Performance and Nvidia's Impact

• 📈 US stocks finished higher on Thursday, with the Dow, S&P 500, and NASDAQ all recording gains.
• 💡 Nvidia's shares jumped over 3% following stronger-than-expected quarterly sales, overshadowing other market movements.
• 🎯 Ben McMillan of IDX Advisors noted that Nvidia's performance signals broader strength in the growth sector for equities.

Tariffs and Trade Policy

• ⚖️ A late-afternoon court ruling reinstated President Donald Trump's sweeping tariffs, reversing a previous decision.
• 🎢 The back-and-forth on tariffs was described as "tariff ping pong," with initial exuberance following the blocking of tariffs now tempered by the White House's expected challenge.

Company and Economic News

• 📉 Best Buy shares plunged over 7% after the retailer lowered its annual forecast due to concerns about tariffs impacting consumer demand.
• ✈️ Boeing rose more than 3% as its CEO indicated plans to increase production of the 737 Max jets.
• ⚠️ The number of Americans filing for jobless benefits increased more than expected, and the unemployment rate appeared to have picked up in May.
• 📉 US GDP contracted by 2% in the first quarter, a steeper decline than the 0.3% contraction economists had forecast.