Latest news with #ClaireBoston
Yahoo
29-05-2025
- Business
- Yahoo
Stock market today: Nvidia earnings boost Nasdaq, S&P 500, Dow retreat on tariff uncertainty
US stocks were a mixed bag on Thursday as markets assessed Nvidia's (NVDA) earnings report as well as a US trade court ruling that blocked President Trump's global tariffs. The S&P 500 (^GSPC) was up about 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) climbed 0.4%. But the Dow Jones Industrial Average (^DJI) fell 0.2% amid debate over Trump's next move in trade policy. Nvidia shares rallied about 4% after its first-quarter revenue topped estimates. Investors appear to be looking past the AI chipmaker's warning that it expects to miss out on $8 billion in sales in the second quarter thanks to US restrictions on exports to China. Overall, Nvidia's performance on Wednesday boosted hopes on Wall Street that Big Tech can weather Trump's far-reaching trade policy. Read more: The latest on Trump's tariffs A panel of judges at the US Court of International Trade on Wednesday blocked a wide swath of Trump's tariffs, saying the president doesn't have the legal authority to impose them. The decision can be appealed by the Trump administration in federal court. Meanwhile, Best Buy (BBY) cut its full-year guidance citing economic uncertainty around those tariffs, sending its stock lower. Eyes are now on Costco's (COST) after-hours report, given the difficult position retailers find themselves in: Trump told Walmart to "eat" price hikes associated with new duties following its latest results. On the economic front, filings for unemployment aid jumped more than expected last week. And in a slight upgrade from the initial reading, the Commerce Department said GDP shrank at a 0.2% annualized pace in the first quarter. Crude oil prices retreated on Thursday amid a looming decision due this weekend over the possibility of increased production from OPEC+ in July. West Texas Intermediate (CL=F) futures fell 1% to hover above $61 per barrel. Brent crude (BZ=F), the international benchmark, also traded above $63 per barrel. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) will decide this weekend whether to raise output in July following increases already set for May and June. Wall Street anticipates the group will vote in favor of increasing supply by 411,000 barrels per day. Yahoo Finance's Claire Boston reports: Read more here. Nvidia (NVDA) The AI chip giant was the No. 1 trending ticker on Yahoo Finance on Thursday after beating expectations on revenue, but falling short on adjusted earnings per share (EPS) due to the impact of the ban on shipments of its H20 units to China. The company also said it expects to miss out on roughly $8 billion in sales of H20s in the second quarter. e.l.f. Beauty (ELF) Shares of the cosmetics company rose more than 20% on Thursday on the heels its quarterly results and $1 billion acquisition announcement of Rhode, a brand founded by Hailey Bieber. Best Buy (BBY) Best Buy shares tanked more than 7% on Thursday after the retailer reported mixed earnings and cut guidance due to the Trump administration's tariffs. Same-store sales fell 0.7% year over year while revenue fell 0.9% to $8.77 billion, missing Wall Street estimates. Adjusted earnings per share slid 4% to $1.15, beating estimates of $1.09. Read more about Best Buy earnings here. US stocks rose on Thursday in the wake of AI chip giant Nvidia's (NVDA) earnings report and a court ruling that threatened President Trump's tariff policy. The S&P 500 (^GSPC) gained about 0.8%. The Dow Jones Industrial Average (^DJI) moved up roughly 0.3%, while the Nasdaq Composite (^IXIC) climbed 1.4%. Tech stocks led the gains, with Nvidia jumping more than 5% following its quarterly report. Its earnings topped estimates, but the company warned of a second quarter revenue impact due to US restrictions on exports to China. Other "Magnificent Seven" stocks also rose, including Amazon (AMZN). Shares in Tesla (TSLA) put on 2% after CEO Elon Musk teased a June rollout of the EV maker's robotaxis and confirmed he was leaving his role in the Trump administration. On Wednesday evening, a panel of judges at the US Court of International Trade blocked Trump's global tariffs on the grounds that the president lacked the authority to issue them using emergency powers. The decision will likely be appealed by the Trump administration in federal court. Weekly filings for unemployment benefits moved higher last week while the number of Americans filing for unemployment insurance on an ongoing basis once again hit their highest level since November 2021 as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 240,000 initial jobless claims were filed in the week ending May 24, up from 226,000 the week prior and above economists' expectations for 230,000. Meanwhile, 1.919 million continuing claims were filed, up from 1.893 million the week prior and the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Tesla (TSLA) stock rose 2% in premarket trading after CEO Elon Musk teased the rollout of its robotaxis and confirmed he was leaving his role in government. Musk said the EV maker has been testing driverless Model Y cars in Austin, Texas, for the past several days. Previously, he said Tesla would begin testing by the end of June, per Reuters. The rollout is also expected to feature 10 to 20 cars to start, based on past comments. "A month ahead of schedule," Musk wrote on X. Also lifting shares was a confirmation from a White House official that Musk will no longer serve on the Department of Government Efficiency (DOGE). Musk's involvement in government was controversial for Tesla shareholders, many of whom felt his attention had become too divided. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' Musk said on Tuesday, adding that he 'must be super focused on 𝕏/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.' Read more here about Tesla's driverless cars and Musk's return to the office. Bloomberg News reports: Read more here. Salesforce (CRM) defied conventional thinking by raising its full-year guidance in the face of tariff headwinds late Wednesday, as it posted first quarter profit and revenue beats. But the software giant's stock is trading pretty much flat in Thursday's pre-market — a sign that analysts aren't that jazzed by its results. Yahoo Finance's Brian Sozzi reports on how Wall Street is reacting: Read more from Wall Street here. As a US trade court ruling upends President Trump's trade strategy, Yahoo Finance's Josh Schafer points out the rewards that awaited investors who snapped up tariff-bruised stocks. Read more here. Economic data: First quarter GDP; First quarter personal consumption; Initial jobless claims, (week ended May 24); Pending home sales (April) Earnings: American Eagle (AEO), Best Buy (BBY), Burlington Stores (BURL), Build-a-Bear Workshop (BBW), Costco (COST), Dell (DELL), Foot Locker (FL), Hormel Foods (HRL), Gap (GAP), Marvell Technology (MRVL), Ulta (ULTA), Zscaler (ZS) The United States Court of International Trade has ruled Trump tariffs "unlawful." Meanwhile, Nvidia earnings lifted Wall Street, even as the chipmaker flagged risks relating to AI chip controls. Here are some of the biggest stories you may have missed overnight and early this morning: Trump's tariffs in limbo after trade court's stunning rebuke Nvidia pops, CEO warns US chip curbs boost China rivals Court rules Trump doesn't have authority to impose tariffs Buying the dip hasn't paid off this much in 30 years Nvidia gets a pass after earnings miss: What Wall Street is saying Real winner in GameStop's bitcoin pivot is Strategy Goldman: Trump can offset tariff ruling with other tools Microsoft shares go from laggard to leader as AI growth improves Yahoo Finance's Brian Sozzi reports: Read more here on what Wall Street is saying about Nvidia's quarter. Shares in HP Inc. (HPQ) fell by 8% on Thursday in premarket trading after the company's profit outlook missed estimates and it cut the annual earnings forecast, citing a weaker economy and continuing costs from US tariffs on goods from China. Bloomberg News reports: Read more here. Markets may be celebrating the latest turn in the tariffs saga, but the US trade court's block isn't definitive — and that means there's still cause for concern, some analysts say. Reuters reports: Read more here. A landmark decision by the US Court of International Trade has deemed many of President Trump's tariffs 'unlawful' and sent markets into a global upturn. Reuters reports: Read more here. Crude oil prices retreated on Thursday amid a looming decision due this weekend over the possibility of increased production from OPEC+ in July. West Texas Intermediate (CL=F) futures fell 1% to hover above $61 per barrel. Brent crude (BZ=F), the international benchmark, also traded above $63 per barrel. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) will decide this weekend whether to raise output in July following increases already set for May and June. Wall Street anticipates the group will vote in favor of increasing supply by 411,000 barrels per day. Yahoo Finance's Claire Boston reports: Read more here. Nvidia (NVDA) The AI chip giant was the No. 1 trending ticker on Yahoo Finance on Thursday after beating expectations on revenue, but falling short on adjusted earnings per share (EPS) due to the impact of the ban on shipments of its H20 units to China. The company also said it expects to miss out on roughly $8 billion in sales of H20s in the second quarter. e.l.f. Beauty (ELF) Shares of the cosmetics company rose more than 20% on Thursday on the heels its quarterly results and $1 billion acquisition announcement of Rhode, a brand founded by Hailey Bieber. Best Buy (BBY) Best Buy shares tanked more than 7% on Thursday after the retailer reported mixed earnings and cut guidance due to the Trump administration's tariffs. Same-store sales fell 0.7% year over year while revenue fell 0.9% to $8.77 billion, missing Wall Street estimates. Adjusted earnings per share slid 4% to $1.15, beating estimates of $1.09. Read more about Best Buy earnings here. US stocks rose on Thursday in the wake of AI chip giant Nvidia's (NVDA) earnings report and a court ruling that threatened President Trump's tariff policy. The S&P 500 (^GSPC) gained about 0.8%. The Dow Jones Industrial Average (^DJI) moved up roughly 0.3%, while the Nasdaq Composite (^IXIC) climbed 1.4%. Tech stocks led the gains, with Nvidia jumping more than 5% following its quarterly report. Its earnings topped estimates, but the company warned of a second quarter revenue impact due to US restrictions on exports to China. Other "Magnificent Seven" stocks also rose, including Amazon (AMZN). Shares in Tesla (TSLA) put on 2% after CEO Elon Musk teased a June rollout of the EV maker's robotaxis and confirmed he was leaving his role in the Trump administration. On Wednesday evening, a panel of judges at the US Court of International Trade blocked Trump's global tariffs on the grounds that the president lacked the authority to issue them using emergency powers. The decision will likely be appealed by the Trump administration in federal court. Weekly filings for unemployment benefits moved higher last week while the number of Americans filing for unemployment insurance on an ongoing basis once again hit their highest level since November 2021 as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 240,000 initial jobless claims were filed in the week ending May 24, up from 226,000 the week prior and above economists' expectations for 230,000. Meanwhile, 1.919 million continuing claims were filed, up from 1.893 million the week prior and the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Tesla (TSLA) stock rose 2% in premarket trading after CEO Elon Musk teased the rollout of its robotaxis and confirmed he was leaving his role in government. Musk said the EV maker has been testing driverless Model Y cars in Austin, Texas, for the past several days. Previously, he said Tesla would begin testing by the end of June, per Reuters. The rollout is also expected to feature 10 to 20 cars to start, based on past comments. "A month ahead of schedule," Musk wrote on X. Also lifting shares was a confirmation from a White House official that Musk will no longer serve on the Department of Government Efficiency (DOGE). Musk's involvement in government was controversial for Tesla shareholders, many of whom felt his attention had become too divided. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' Musk said on Tuesday, adding that he 'must be super focused on 𝕏/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.' Read more here about Tesla's driverless cars and Musk's return to the office. Bloomberg News reports: Read more here. Salesforce (CRM) defied conventional thinking by raising its full-year guidance in the face of tariff headwinds late Wednesday, as it posted first quarter profit and revenue beats. But the software giant's stock is trading pretty much flat in Thursday's pre-market — a sign that analysts aren't that jazzed by its results. Yahoo Finance's Brian Sozzi reports on how Wall Street is reacting: Read more from Wall Street here. As a US trade court ruling upends President Trump's trade strategy, Yahoo Finance's Josh Schafer points out the rewards that awaited investors who snapped up tariff-bruised stocks. Read more here. Economic data: First quarter GDP; First quarter personal consumption; Initial jobless claims, (week ended May 24); Pending home sales (April) Earnings: American Eagle (AEO), Best Buy (BBY), Burlington Stores (BURL), Build-a-Bear Workshop (BBW), Costco (COST), Dell (DELL), Foot Locker (FL), Hormel Foods (HRL), Gap (GAP), Marvell Technology (MRVL), Ulta (ULTA), Zscaler (ZS) The United States Court of International Trade has ruled Trump tariffs "unlawful." Meanwhile, Nvidia earnings lifted Wall Street, even as the chipmaker flagged risks relating to AI chip controls. Here are some of the biggest stories you may have missed overnight and early this morning: Trump's tariffs in limbo after trade court's stunning rebuke Nvidia pops, CEO warns US chip curbs boost China rivals Court rules Trump doesn't have authority to impose tariffs Buying the dip hasn't paid off this much in 30 years Nvidia gets a pass after earnings miss: What Wall Street is saying Real winner in GameStop's bitcoin pivot is Strategy Goldman: Trump can offset tariff ruling with other tools Microsoft shares go from laggard to leader as AI growth improves Yahoo Finance's Brian Sozzi reports: Read more here on what Wall Street is saying about Nvidia's quarter. Shares in HP Inc. (HPQ) fell by 8% on Thursday in premarket trading after the company's profit outlook missed estimates and it cut the annual earnings forecast, citing a weaker economy and continuing costs from US tariffs on goods from China. Bloomberg News reports: Read more here. Markets may be celebrating the latest turn in the tariffs saga, but the US trade court's block isn't definitive — and that means there's still cause for concern, some analysts say. Reuters reports: Read more here. A landmark decision by the US Court of International Trade has deemed many of President Trump's tariffs 'unlawful' and sent markets into a global upturn. Reuters reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
Stock market today: S&P 500, Nasdaq rise but Dow struggles as Wall Street weighs tariff block, Nvidia earnings
US stocks moved broadly higher on Thursday as markets assessed Nvidia's (NVDA) earnings report as well as a US trade court ruling that blocked President Trump's global tariffs. The S&P 500 (^GSPC) gained about 0.5%, and the tech-heavy Nasdaq Composite (^IXIC) climbed 0.8%. But the Dow Jones Industrial Average (^DJI) hovered near the flatline amid debate over Trump's next move in trade policy. Nvidia shares rallied as much as 5% after its first-quarter revenue topped estimates. Investors appear to be looking past the AI chipmaker's warning that it expects to miss out on $8 billion in sales in the second quarter thanks to US restrictions on exports to China. Overall, Nvidia's performance on Wednesday boosted hopes on Wall Street that Big Tech can weather Trump's far-reaching trade policy. Read more: The latest on Trump's tariffs A panel of judges at the US Court of International Trade on Wednesday blocked a wide swath of Trump's tariffs, saying the president doesn't have the legal authority to impose them. The decision can be appealed by the Trump administration in federal court. Meanwhile, Best Buy (BBY) cut its full-year guidance citing economic uncertainty around those tariffs, sending its stock lower. Eyes are now on Costco's (COST) after-hours report, given the difficult position retailers find themselves in: Trump told Walmart to "eat" price hikes associated with new duties following its latest results. On the economic front, filings for unemployment aid jumped more than expected last week. And in a slight upgrade from the initial reading, the Commerce Department said GDP shrank at a 0.2% annualized pace in the first quarter. Crude oil prices retreated on Thursday amid a looming decision due this weekend over the possibility of increased production from OPEC+ in July. West Texas Intermediate (CL=F) futures fell 1% to hover above $61 per barrel. Brent crude (BZ=F), the international benchmark, also traded above $63 per barrel. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) will decide this weekend whether to raise output in July following increases already set for May and June. Wall Street anticipates the group will vote in favor of increasing supply by 411,000 barrels per day. Yahoo Finance's Claire Boston reports: Read more here. Nvidia (NVDA) The AI chip giant was the No. 1 trending ticker on Yahoo Finance on Thursday after beating expectations on revenue, but falling short on adjusted earnings per share (EPS) due to the impact of the ban on shipments of its H20 units to China. The company also said it expects to miss out on roughly $8 billion in sales of H20s in the second quarter. e.l.f. Beauty (ELF) Shares of the cosmetics company rose more than 20% on Thursday on the heels its quarterly results and $1 billion acquisition announcement of Rhode, a brand founded by Hailey Bieber. Best Buy (BBY) Best Buy shares tanked more than 7% on Thursday after the retailer reported mixed earnings and cut guidance due to the Trump administration's tariffs. Same-store sales fell 0.7% year over year while revenue fell 0.9% to $8.77 billion, missing Wall Street estimates. Adjusted earnings per share slid 4% to $1.15, beating estimates of $1.09. Read more about Best Buy earnings here. US stocks rose on Thursday in the wake of AI chip giant Nvidia's (NVDA) earnings report and a court ruling that threatened President Trump's tariff policy. The S&P 500 (^GSPC) gained about 0.8%. The Dow Jones Industrial Average (^DJI) moved up roughly 0.3%, while the Nasdaq Composite (^IXIC) climbed 1.4%. Tech stocks led the gains, with Nvidia jumping more than 5% following its quarterly report. Its earnings topped estimates, but the company warned of a second quarter revenue impact due to US restrictions on exports to China. Other "Magnificent Seven" stocks also rose, including Amazon (AMZN). Shares in Tesla (TSLA) put on 2% after CEO Elon Musk teased a June rollout of the EV maker's robotaxis and confirmed he was leaving his role in the Trump administration. On Wednesday evening, a panel of judges at the US Court of International Trade blocked Trump's global tariffs on the grounds that the president lacked the authority to issue them using emergency powers. The decision will likely be appealed by the Trump administration in federal court. Weekly filings for unemployment benefits moved higher last week while the number of Americans filing for unemployment insurance on an ongoing basis once again hit their highest level since November 2021 as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 240,000 initial jobless claims were filed in the week ending May 24, up from 226,000 the week prior and above economists' expectations for 230,000. Meanwhile, 1.919 million continuing claims were filed, up from 1.893 million the week prior and the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Tesla (TSLA) stock rose 2% in premarket trading after CEO Elon Musk teased the rollout of its robotaxis and confirmed he was leaving his role in government. Musk said the EV maker has been testing driverless Model Y cars in Austin, Texas, for the past several days. Previously, he said Tesla would begin testing by the end of June, per Reuters. The rollout is also expected to feature 10 to 20 cars to start, based on past comments. "A month ahead of schedule," Musk wrote on X. Also lifting shares was a confirmation from a White House official that Musk will no longer serve on the Department of Government Efficiency (DOGE). Musk's involvement in government was controversial for Tesla shareholders, many of whom felt his attention had become too divided. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' Musk said on Tuesday, adding that he 'must be super focused on 𝕏/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.' Read more here about Tesla's driverless cars and Musk's return to the office. Bloomberg News reports: Read more here. Salesforce (CRM) defied conventional thinking by raising its full-year guidance in the face of tariff headwinds late Wednesday, as it posted first quarter profit and revenue beats. But the software giant's stock is trading pretty much flat in Thursday's pre-market — a sign that analysts aren't that jazzed by its results. Yahoo Finance's Brian Sozzi reports on how Wall Street is reacting: Read more from Wall Street here. As a US trade court ruling upends President Trump's trade strategy, Yahoo Finance's Josh Schafer points out the rewards that awaited investors who snapped up tariff-bruised stocks. Read more here. Economic data: First quarter GDP; First quarter personal consumption; Initial jobless claims, (week ended May 24); Pending home sales (April) Earnings: American Eagle (AEO), Best Buy (BBY), Burlington Stores (BURL), Build-a-Bear Workshop (BBW), Costco (COST), Dell (DELL), Foot Locker (FL), Hormel Foods (HRL), Gap (GAP), Marvell Technology (MRVL), Ulta (ULTA), Zscaler (ZS) The United States Court of International Trade has ruled Trump tariffs "unlawful." Meanwhile, Nvidia earnings lifted Wall Street, even as the chipmaker flagged risks relating to AI chip controls. Here are some of the biggest stories you may have missed overnight and early this morning: Trump's tariffs in limbo after trade court's stunning rebuke Nvidia pops, CEO warns US chip curbs boost China rivals Court rules Trump doesn't have authority to impose tariffs Buying the dip hasn't paid off this much in 30 years Nvidia gets a pass after earnings miss: What Wall Street is saying Real winner in GameStop's bitcoin pivot is Strategy Goldman: Trump can offset tariff ruling with other tools Microsoft shares go from laggard to leader as AI growth improves Yahoo Finance's Brian Sozzi reports: Read more here on what Wall Street is saying about Nvidia's quarter. Shares in HP Inc. (HPQ) fell by 8% on Thursday in premarket trading after the company's profit outlook missed estimates and it cut the annual earnings forecast, citing a weaker economy and continuing costs from US tariffs on goods from China. Bloomberg News reports: Read more here. Markets may be celebrating the latest turn in the tariffs saga, but the US trade court's block isn't definitive — and that means there's still cause for concern, some analysts say. Reuters reports: Read more here. A landmark decision by the US Court of International Trade has deemed many of President Trump's tariffs 'unlawful' and sent markets into a global upturn. Reuters reports: Read more here. Crude oil prices retreated on Thursday amid a looming decision due this weekend over the possibility of increased production from OPEC+ in July. West Texas Intermediate (CL=F) futures fell 1% to hover above $61 per barrel. Brent crude (BZ=F), the international benchmark, also traded above $63 per barrel. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) will decide this weekend whether to raise output in July following increases already set for May and June. Wall Street anticipates the group will vote in favor of increasing supply by 411,000 barrels per day. Yahoo Finance's Claire Boston reports: Read more here. Nvidia (NVDA) The AI chip giant was the No. 1 trending ticker on Yahoo Finance on Thursday after beating expectations on revenue, but falling short on adjusted earnings per share (EPS) due to the impact of the ban on shipments of its H20 units to China. The company also said it expects to miss out on roughly $8 billion in sales of H20s in the second quarter. e.l.f. Beauty (ELF) Shares of the cosmetics company rose more than 20% on Thursday on the heels its quarterly results and $1 billion acquisition announcement of Rhode, a brand founded by Hailey Bieber. Best Buy (BBY) Best Buy shares tanked more than 7% on Thursday after the retailer reported mixed earnings and cut guidance due to the Trump administration's tariffs. Same-store sales fell 0.7% year over year while revenue fell 0.9% to $8.77 billion, missing Wall Street estimates. Adjusted earnings per share slid 4% to $1.15, beating estimates of $1.09. Read more about Best Buy earnings here. US stocks rose on Thursday in the wake of AI chip giant Nvidia's (NVDA) earnings report and a court ruling that threatened President Trump's tariff policy. The S&P 500 (^GSPC) gained about 0.8%. The Dow Jones Industrial Average (^DJI) moved up roughly 0.3%, while the Nasdaq Composite (^IXIC) climbed 1.4%. Tech stocks led the gains, with Nvidia jumping more than 5% following its quarterly report. Its earnings topped estimates, but the company warned of a second quarter revenue impact due to US restrictions on exports to China. Other "Magnificent Seven" stocks also rose, including Amazon (AMZN). Shares in Tesla (TSLA) put on 2% after CEO Elon Musk teased a June rollout of the EV maker's robotaxis and confirmed he was leaving his role in the Trump administration. On Wednesday evening, a panel of judges at the US Court of International Trade blocked Trump's global tariffs on the grounds that the president lacked the authority to issue them using emergency powers. The decision will likely be appealed by the Trump administration in federal court. Weekly filings for unemployment benefits moved higher last week while the number of Americans filing for unemployment insurance on an ongoing basis once again hit their highest level since November 2021 as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 240,000 initial jobless claims were filed in the week ending May 24, up from 226,000 the week prior and above economists' expectations for 230,000. Meanwhile, 1.919 million continuing claims were filed, up from 1.893 million the week prior and the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Tesla (TSLA) stock rose 2% in premarket trading after CEO Elon Musk teased the rollout of its robotaxis and confirmed he was leaving his role in government. Musk said the EV maker has been testing driverless Model Y cars in Austin, Texas, for the past several days. Previously, he said Tesla would begin testing by the end of June, per Reuters. The rollout is also expected to feature 10 to 20 cars to start, based on past comments. "A month ahead of schedule," Musk wrote on X. Also lifting shares was a confirmation from a White House official that Musk will no longer serve on the Department of Government Efficiency (DOGE). Musk's involvement in government was controversial for Tesla shareholders, many of whom felt his attention had become too divided. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' Musk said on Tuesday, adding that he 'must be super focused on 𝕏/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.' Read more here about Tesla's driverless cars and Musk's return to the office. Bloomberg News reports: Read more here. Salesforce (CRM) defied conventional thinking by raising its full-year guidance in the face of tariff headwinds late Wednesday, as it posted first quarter profit and revenue beats. But the software giant's stock is trading pretty much flat in Thursday's pre-market — a sign that analysts aren't that jazzed by its results. Yahoo Finance's Brian Sozzi reports on how Wall Street is reacting: Read more from Wall Street here. As a US trade court ruling upends President Trump's trade strategy, Yahoo Finance's Josh Schafer points out the rewards that awaited investors who snapped up tariff-bruised stocks. Read more here. Economic data: First quarter GDP; First quarter personal consumption; Initial jobless claims, (week ended May 24); Pending home sales (April) Earnings: American Eagle (AEO), Best Buy (BBY), Burlington Stores (BURL), Build-a-Bear Workshop (BBW), Costco (COST), Dell (DELL), Foot Locker (FL), Hormel Foods (HRL), Gap (GAP), Marvell Technology (MRVL), Ulta (ULTA), Zscaler (ZS) The United States Court of International Trade has ruled Trump tariffs "unlawful." Meanwhile, Nvidia earnings lifted Wall Street, even as the chipmaker flagged risks relating to AI chip controls. Here are some of the biggest stories you may have missed overnight and early this morning: Trump's tariffs in limbo after trade court's stunning rebuke Nvidia pops, CEO warns US chip curbs boost China rivals Court rules Trump doesn't have authority to impose tariffs Buying the dip hasn't paid off this much in 30 years Nvidia gets a pass after earnings miss: What Wall Street is saying Real winner in GameStop's bitcoin pivot is Strategy Goldman: Trump can offset tariff ruling with other tools Microsoft shares go from laggard to leader as AI growth improves Yahoo Finance's Brian Sozzi reports: Read more here on what Wall Street is saying about Nvidia's quarter. Shares in HP Inc. (HPQ) fell by 8% on Thursday in premarket trading after the company's profit outlook missed estimates and it cut the annual earnings forecast, citing a weaker economy and continuing costs from US tariffs on goods from China. Bloomberg News reports: Read more here. Markets may be celebrating the latest turn in the tariffs saga, but the US trade court's block isn't definitive — and that means there's still cause for concern, some analysts say. Reuters reports: Read more here. A landmark decision by the US Court of International Trade has deemed many of President Trump's tariffs 'unlawful' and sent markets into a global upturn. Reuters reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq edge higher as Wall Street weighs Trump tariff block, Nvidia earnings
US stocks edged up on Thursday as markets assessed Nvidia's (NVDA) earnings report as well as a US trade court ruling that blocked President Trump's global tariffs. The S&P 500 (^GSPC) gained about 0.5%. The Dow Jones Industrial Average (^DJI) hovered near the flatline, while the Nasdaq Composite (^IXIC) climbed 0.8%. Nvidia shares rallied as much as 5% after its first-quarter revenue topped estimates. Investors appear to be looking past the AI chipmaker's warning that it expects to miss out on $8 billion in sales in the second quarter thanks to US restrictions on exports to China. Overall, Nvidia's performance on Wednesday boosted hopes on Wall Street that Big Tech can weather Trump's far-reaching trade policy. Read more: The latest on Trump's tariffs A panel of judges at the US Court of International Trade on Wednesday blocked a wide swath of Trump's tariffs, saying the president doesn't have the legal authority to impose them. The decision can be appealed by the Trump administration in federal court. Meanwhile, Best Buy (BBY) cut its full-year guidance citing economic uncertainty around those tariffs, sending its stock lower. Eyes are now on Costco's (COST) after-hours report, given the difficult position retailers find themselves in: Trump told Walmart to "eat" price hikes associated with new duties following its latest results. On the economic front, filings for unemployment aid jumped more than expected last week. And in a slight upgrade from the initial reading, the Commerce Department said GDP shrank at a 0.2% annualized pace in the first quarter. Yahoo Finance's Claire Boston reports: Read more here. Nvidia (NVDA) The AI chip giant was the No. 1 trending ticker on Yahoo Finance on Thursday after beating expectations on revenue, but falling short on adjusted earnings per share (EPS) due to the impact of the ban on shipments of its H20 units to China. The company also said it expects to miss out on roughly $8 billion in sales of H20s in the second quarter. e.l.f. Beauty (ELF) Shares of the cosmetics company rose more than 20% on Thursday on the heels its quarterly results and $1 billion acquisition announcement of Rhode, a brand founded by Hailey Bieber. Best Buy (BBY) Best Buy shares tanked more than 7% on Thursday after the retailer reported mixed earnings and cut guidance due to the Trump administration's tariffs. Same-store sales fell 0.7% year over year while revenue fell 0.9% to $8.77 billion, missing Wall Street estimates. Adjusted earnings per share slid 4% to $1.15, beating estimates of $1.09. Read more about Best Buy earnings here. US stocks rose on Thursday in the wake of AI chip giant Nvidia's (NVDA) earnings report and a court ruling that threatened President Trump's tariff policy. The S&P 500 (^GSPC) gained about 0.8%. The Dow Jones Industrial Average (^DJI) moved up roughly 0.3%, while the Nasdaq Composite (^IXIC) climbed 1.4%. Tech stocks led the gains, with Nvidia jumping more than 5% following its quarterly report. Its earnings topped estimates, but the company warned of a second quarter revenue impact due to US restrictions on exports to China. Other "Magnificent Seven" stocks also rose, including Amazon (AMZN). Shares in Tesla (TSLA) put on 2% after CEO Elon Musk teased a June rollout of the EV maker's robotaxis and confirmed he was leaving his role in the Trump administration. On Wednesday evening, a panel of judges at the US Court of International Trade blocked Trump's global tariffs on the grounds that the president lacked the authority to issue them using emergency powers. The decision will likely be appealed by the Trump administration in federal court. Weekly filings for unemployment benefits moved higher last week while the number of Americans filing for unemployment insurance on an ongoing basis once again hit their highest level since November 2021 as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 240,000 initial jobless claims were filed in the week ending May 24, up from 226,000 the week prior and above economists' expectations for 230,000. Meanwhile, 1.919 million continuing claims were filed, up from 1.893 million the week prior and the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Tesla (TSLA) stock rose 2% in premarket trading after CEO Elon Musk teased the rollout of its robotaxis and confirmed he was leaving his role in government. Musk said the EV maker has been testing driverless Model Y cars in Austin, Texas, for the past several days. Previously, he said Tesla would begin testing by the end of June, per Reuters. The rollout is also expected to feature 10 to 20 cars to start, based on past comments. "A month ahead of schedule," Musk wrote on X. Also lifting shares was a confirmation from a White House official that Musk will no longer serve on the Department of Government Efficiency (DOGE). Musk's involvement in government was controversial for Tesla shareholders, many of whom felt his attention had become too divided. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' Musk said on Tuesday, adding that he 'must be super focused on 𝕏/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.' Read more here about Tesla's driverless cars and Musk's return to the office. Bloomberg News reports: Read more here. Salesforce (CRM) defied conventional thinking by raising its full-year guidance in the face of tariff headwinds late Wednesday, as it posted first quarter profit and revenue beats. But the software giant's stock is trading pretty much flat in Thursday's pre-market — a sign that analysts aren't that jazzed by its results. Yahoo Finance's Brian Sozzi reports on how Wall Street is reacting: Read more from Wall Street here. As a US trade court ruling upends President Trump's trade strategy, Yahoo Finance's Josh Schafer points out the rewards that awaited investors who snapped up tariff-bruised stocks. Read more here. Economic data: First quarter GDP; First quarter personal consumption; Initial jobless claims, (week ended May 24); Pending home sales (April) Earnings: American Eagle (AEO), Best Buy (BBY), Burlington Stores (BURL), Build-a-Bear Workshop (BBW), Costco (COST), Dell (DELL), Foot Locker (FL), Hormel Foods (HRL), Gap (GAP), Marvell Technology (MRVL), Ulta (ULTA), Zscaler (ZS) The United States Court of International Trade has ruled Trump tariffs "unlawful." Meanwhile, Nvidia earnings lifted Wall Street, even as the chipmaker flagged risks relating to AI chip controls. Here are some of the biggest stories you may have missed overnight and early this morning: Trump's tariffs in limbo after trade court's stunning rebuke Nvidia pops, CEO warns US chip curbs boost China rivals Court rules Trump doesn't have authority to impose tariffs Buying the dip hasn't paid off this much in 30 years Nvidia gets a pass after earnings miss: What Wall Street is saying Real winner in GameStop's bitcoin pivot is Strategy Goldman: Trump can offset tariff ruling with other tools Microsoft shares go from laggard to leader as AI growth improves Yahoo Finance's Brian Sozzi reports: Read more here on what Wall Street is saying about Nvidia's quarter. Shares in HP Inc. (HPQ) fell by 8% on Thursday in premarket trading after the company's profit outlook missed estimates and it cut the annual earnings forecast, citing a weaker economy and continuing costs from US tariffs on goods from China. Bloomberg News reports: Read more here. Markets may be celebrating the latest turn in the tariffs saga, but the US trade court's block isn't definitive — and that means there's still cause for concern, some analysts say. Reuters reports: Read more here. A landmark decision by the US Court of International Trade has deemed many of President Trump's tariffs 'unlawful' and sent markets into a global upturn. Reuters reports: Read more here. Yahoo Finance's Claire Boston reports: Read more here. Nvidia (NVDA) The AI chip giant was the No. 1 trending ticker on Yahoo Finance on Thursday after beating expectations on revenue, but falling short on adjusted earnings per share (EPS) due to the impact of the ban on shipments of its H20 units to China. The company also said it expects to miss out on roughly $8 billion in sales of H20s in the second quarter. e.l.f. Beauty (ELF) Shares of the cosmetics company rose more than 20% on Thursday on the heels its quarterly results and $1 billion acquisition announcement of Rhode, a brand founded by Hailey Bieber. Best Buy (BBY) Best Buy shares tanked more than 7% on Thursday after the retailer reported mixed earnings and cut guidance due to the Trump administration's tariffs. Same-store sales fell 0.7% year over year while revenue fell 0.9% to $8.77 billion, missing Wall Street estimates. Adjusted earnings per share slid 4% to $1.15, beating estimates of $1.09. Read more about Best Buy earnings here. US stocks rose on Thursday in the wake of AI chip giant Nvidia's (NVDA) earnings report and a court ruling that threatened President Trump's tariff policy. The S&P 500 (^GSPC) gained about 0.8%. The Dow Jones Industrial Average (^DJI) moved up roughly 0.3%, while the Nasdaq Composite (^IXIC) climbed 1.4%. Tech stocks led the gains, with Nvidia jumping more than 5% following its quarterly report. Its earnings topped estimates, but the company warned of a second quarter revenue impact due to US restrictions on exports to China. Other "Magnificent Seven" stocks also rose, including Amazon (AMZN). Shares in Tesla (TSLA) put on 2% after CEO Elon Musk teased a June rollout of the EV maker's robotaxis and confirmed he was leaving his role in the Trump administration. On Wednesday evening, a panel of judges at the US Court of International Trade blocked Trump's global tariffs on the grounds that the president lacked the authority to issue them using emergency powers. The decision will likely be appealed by the Trump administration in federal court. Weekly filings for unemployment benefits moved higher last week while the number of Americans filing for unemployment insurance on an ongoing basis once again hit their highest level since November 2021 as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 240,000 initial jobless claims were filed in the week ending May 24, up from 226,000 the week prior and above economists' expectations for 230,000. Meanwhile, 1.919 million continuing claims were filed, up from 1.893 million the week prior and the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Tesla (TSLA) stock rose 2% in premarket trading after CEO Elon Musk teased the rollout of its robotaxis and confirmed he was leaving his role in government. Musk said the EV maker has been testing driverless Model Y cars in Austin, Texas, for the past several days. Previously, he said Tesla would begin testing by the end of June, per Reuters. The rollout is also expected to feature 10 to 20 cars to start, based on past comments. "A month ahead of schedule," Musk wrote on X. Also lifting shares was a confirmation from a White House official that Musk will no longer serve on the Department of Government Efficiency (DOGE). Musk's involvement in government was controversial for Tesla shareholders, many of whom felt his attention had become too divided. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' Musk said on Tuesday, adding that he 'must be super focused on 𝕏/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.' Read more here about Tesla's driverless cars and Musk's return to the office. Bloomberg News reports: Read more here. Salesforce (CRM) defied conventional thinking by raising its full-year guidance in the face of tariff headwinds late Wednesday, as it posted first quarter profit and revenue beats. But the software giant's stock is trading pretty much flat in Thursday's pre-market — a sign that analysts aren't that jazzed by its results. Yahoo Finance's Brian Sozzi reports on how Wall Street is reacting: Read more from Wall Street here. As a US trade court ruling upends President Trump's trade strategy, Yahoo Finance's Josh Schafer points out the rewards that awaited investors who snapped up tariff-bruised stocks. Read more here. Economic data: First quarter GDP; First quarter personal consumption; Initial jobless claims, (week ended May 24); Pending home sales (April) Earnings: American Eagle (AEO), Best Buy (BBY), Burlington Stores (BURL), Build-a-Bear Workshop (BBW), Costco (COST), Dell (DELL), Foot Locker (FL), Hormel Foods (HRL), Gap (GAP), Marvell Technology (MRVL), Ulta (ULTA), Zscaler (ZS) The United States Court of International Trade has ruled Trump tariffs "unlawful." Meanwhile, Nvidia earnings lifted Wall Street, even as the chipmaker flagged risks relating to AI chip controls. Here are some of the biggest stories you may have missed overnight and early this morning: Trump's tariffs in limbo after trade court's stunning rebuke Nvidia pops, CEO warns US chip curbs boost China rivals Court rules Trump doesn't have authority to impose tariffs Buying the dip hasn't paid off this much in 30 years Nvidia gets a pass after earnings miss: What Wall Street is saying Real winner in GameStop's bitcoin pivot is Strategy Goldman: Trump can offset tariff ruling with other tools Microsoft shares go from laggard to leader as AI growth improves Yahoo Finance's Brian Sozzi reports: Read more here on what Wall Street is saying about Nvidia's quarter. Shares in HP Inc. (HPQ) fell by 8% on Thursday in premarket trading after the company's profit outlook missed estimates and it cut the annual earnings forecast, citing a weaker economy and continuing costs from US tariffs on goods from China. Bloomberg News reports: Read more here. Markets may be celebrating the latest turn in the tariffs saga, but the US trade court's block isn't definitive — and that means there's still cause for concern, some analysts say. Reuters reports: Read more here. A landmark decision by the US Court of International Trade has deemed many of President Trump's tariffs 'unlawful' and sent markets into a global upturn. Reuters reports: Read more here. Sign in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq edge higher as Wall Street weighs Trump tariff block, Nvidia earnings
US stocks edged up on Thursday as markets assessed Nvidia's (NVDA) earnings report as well as a US trade court ruling that blocked President Trump's global tariffs. The S&P 500 (^GSPC) gained about 0.5%. The Dow Jones Industrial Average (^DJI) hovered near the flatline, while the Nasdaq Composite (^IXIC) climbed 0.8%. Nvidia shares rallied as much as 5% after its first-quarter revenue topped estimates. Investors appear to be looking past the AI chipmaker's warning that it expects to miss out on $8 billion in sales in the second quarter thanks to US restrictions on exports to China. Overall, Nvidia's performance on Wednesday boosted hopes on Wall Street that Big Tech can weather Trump's far-reaching trade policy. Read more: The latest on Trump's tariffs A panel of judges at the US Court of International Trade on Wednesday blocked a wide swath of Trump's tariffs, saying the president doesn't have the legal authority to impose them. The decision can be appealed by the Trump administration in federal court. Meanwhile, Best Buy (BBY) cut its full-year guidance citing economic uncertainty around those tariffs, sending its stock lower. Eyes are now on Costco's (COST) after-hours report, given the difficult position retailers find themselves in: Trump told Walmart to "eat" price hikes associated with new duties following its latest results. On the economic front, filings for unemployment aid jumped more than expected last week. And in a slight upgrade from the initial reading, the Commerce Department said GDP shrank at a 0.2% annualized pace in the first quarter. Yahoo Finance's Claire Boston reports: Read more here. Nvidia (NVDA) The AI chip giant was the No. 1 trending ticker on Yahoo Finance on Thursday after beating expectations on revenue, but falling short on adjusted earnings per share (EPS) due to the impact of the ban on shipments of its H20 units to China. The company also said it expects to miss out on roughly $8 billion in sales of H20s in the second quarter. e.l.f. Beauty (ELF) Shares of the cosmetics company rose more than 20% on Thursday on the heels its quarterly results and $1 billion acquisition announcement of Rhode, a brand founded by Hailey Bieber. Best Buy (BBY) Best Buy shares tanked more than 7% on Thursday after the retailer reported mixed earnings and cut guidance due to the Trump administration's tariffs. Same-store sales fell 0.7% year over year while revenue fell 0.9% to $8.77 billion, missing Wall Street estimates. Adjusted earnings per share slid 4% to $1.15, beating estimates of $1.09. Read more about Best Buy earnings here. US stocks rose on Thursday in the wake of AI chip giant Nvidia's (NVDA) earnings report and a court ruling that threatened President Trump's tariff policy. The S&P 500 (^GSPC) gained about 0.8%. The Dow Jones Industrial Average (^DJI) moved up roughly 0.3%, while the Nasdaq Composite (^IXIC) climbed 1.4%. Tech stocks led the gains, with Nvidia jumping more than 5% following its quarterly report. Its earnings topped estimates, but the company warned of a second quarter revenue impact due to US restrictions on exports to China. Other "Magnificent Seven" stocks also rose, including Amazon (AMZN). Shares in Tesla (TSLA) put on 2% after CEO Elon Musk teased a June rollout of the EV maker's robotaxis and confirmed he was leaving his role in the Trump administration. On Wednesday evening, a panel of judges at the US Court of International Trade blocked Trump's global tariffs on the grounds that the president lacked the authority to issue them using emergency powers. The decision will likely be appealed by the Trump administration in federal court. Weekly filings for unemployment benefits moved higher last week while the number of Americans filing for unemployment insurance on an ongoing basis once again hit their highest level since November 2021 as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 240,000 initial jobless claims were filed in the week ending May 24, up from 226,000 the week prior and above economists' expectations for 230,000. Meanwhile, 1.919 million continuing claims were filed, up from 1.893 million the week prior and the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Tesla (TSLA) stock rose 2% in premarket trading after CEO Elon Musk teased the rollout of its robotaxis and confirmed he was leaving his role in government. Musk said the EV maker has been testing driverless Model Y cars in Austin, Texas, for the past several days. Previously, he said Tesla would begin testing by the end of June, per Reuters. The rollout is also expected to feature 10 to 20 cars to start, based on past comments. "A month ahead of schedule," Musk wrote on X. Also lifting shares was a confirmation from a White House official that Musk will no longer serve on the Department of Government Efficiency (DOGE). Musk's involvement in government was controversial for Tesla shareholders, many of whom felt his attention had become too divided. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' Musk said on Tuesday, adding that he 'must be super focused on 𝕏/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.' Read more here about Tesla's driverless cars and Musk's return to the office. Bloomberg News reports: Read more here. Salesforce (CRM) defied conventional thinking by raising its full-year guidance in the face of tariff headwinds late Wednesday, as it posted first quarter profit and revenue beats. But the software giant's stock is trading pretty much flat in Thursday's pre-market — a sign that analysts aren't that jazzed by its results. Yahoo Finance's Brian Sozzi reports on how Wall Street is reacting: Read more from Wall Street here. As a US trade court ruling upends President Trump's trade strategy, Yahoo Finance's Josh Schafer points out the rewards that awaited investors who snapped up tariff-bruised stocks. Read more here. Economic data: First quarter GDP; First quarter personal consumption; Initial jobless claims, (week ended May 24); Pending home sales (April) Earnings: American Eagle (AEO), Best Buy (BBY), Burlington Stores (BURL), Build-a-Bear Workshop (BBW), Costco (COST), Dell (DELL), Foot Locker (FL), Hormel Foods (HRL), Gap (GAP), Marvell Technology (MRVL), Ulta (ULTA), Zscaler (ZS) The United States Court of International Trade has ruled Trump tariffs "unlawful." Meanwhile, Nvidia earnings lifted Wall Street, even as the chipmaker flagged risks relating to AI chip controls. Here are some of the biggest stories you may have missed overnight and early this morning: Trump's tariffs in limbo after trade court's stunning rebuke Nvidia pops, CEO warns US chip curbs boost China rivals Court rules Trump doesn't have authority to impose tariffs Buying the dip hasn't paid off this much in 30 years Nvidia gets a pass after earnings miss: What Wall Street is saying Real winner in GameStop's bitcoin pivot is Strategy Goldman: Trump can offset tariff ruling with other tools Microsoft shares go from laggard to leader as AI growth improves Yahoo Finance's Brian Sozzi reports: Read more here on what Wall Street is saying about Nvidia's quarter. Shares in HP Inc. (HPQ) fell by 8% on Thursday in premarket trading after the company's profit outlook missed estimates and it cut the annual earnings forecast, citing a weaker economy and continuing costs from US tariffs on goods from China. Bloomberg News reports: Read more here. Markets may be celebrating the latest turn in the tariffs saga, but the US trade court's block isn't definitive — and that means there's still cause for concern, some analysts say. Reuters reports: Read more here. A landmark decision by the US Court of International Trade has deemed many of President Trump's tariffs 'unlawful' and sent markets into a global upturn. Reuters reports: Read more here. Yahoo Finance's Claire Boston reports: Read more here. Nvidia (NVDA) The AI chip giant was the No. 1 trending ticker on Yahoo Finance on Thursday after beating expectations on revenue, but falling short on adjusted earnings per share (EPS) due to the impact of the ban on shipments of its H20 units to China. The company also said it expects to miss out on roughly $8 billion in sales of H20s in the second quarter. e.l.f. Beauty (ELF) Shares of the cosmetics company rose more than 20% on Thursday on the heels its quarterly results and $1 billion acquisition announcement of Rhode, a brand founded by Hailey Bieber. Best Buy (BBY) Best Buy shares tanked more than 7% on Thursday after the retailer reported mixed earnings and cut guidance due to the Trump administration's tariffs. Same-store sales fell 0.7% year over year while revenue fell 0.9% to $8.77 billion, missing Wall Street estimates. Adjusted earnings per share slid 4% to $1.15, beating estimates of $1.09. Read more about Best Buy earnings here. US stocks rose on Thursday in the wake of AI chip giant Nvidia's (NVDA) earnings report and a court ruling that threatened President Trump's tariff policy. The S&P 500 (^GSPC) gained about 0.8%. The Dow Jones Industrial Average (^DJI) moved up roughly 0.3%, while the Nasdaq Composite (^IXIC) climbed 1.4%. Tech stocks led the gains, with Nvidia jumping more than 5% following its quarterly report. Its earnings topped estimates, but the company warned of a second quarter revenue impact due to US restrictions on exports to China. Other "Magnificent Seven" stocks also rose, including Amazon (AMZN). Shares in Tesla (TSLA) put on 2% after CEO Elon Musk teased a June rollout of the EV maker's robotaxis and confirmed he was leaving his role in the Trump administration. On Wednesday evening, a panel of judges at the US Court of International Trade blocked Trump's global tariffs on the grounds that the president lacked the authority to issue them using emergency powers. The decision will likely be appealed by the Trump administration in federal court. Weekly filings for unemployment benefits moved higher last week while the number of Americans filing for unemployment insurance on an ongoing basis once again hit their highest level since November 2021 as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 240,000 initial jobless claims were filed in the week ending May 24, up from 226,000 the week prior and above economists' expectations for 230,000. Meanwhile, 1.919 million continuing claims were filed, up from 1.893 million the week prior and the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Tesla (TSLA) stock rose 2% in premarket trading after CEO Elon Musk teased the rollout of its robotaxis and confirmed he was leaving his role in government. Musk said the EV maker has been testing driverless Model Y cars in Austin, Texas, for the past several days. Previously, he said Tesla would begin testing by the end of June, per Reuters. The rollout is also expected to feature 10 to 20 cars to start, based on past comments. "A month ahead of schedule," Musk wrote on X. Also lifting shares was a confirmation from a White House official that Musk will no longer serve on the Department of Government Efficiency (DOGE). Musk's involvement in government was controversial for Tesla shareholders, many of whom felt his attention had become too divided. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' Musk said on Tuesday, adding that he 'must be super focused on 𝕏/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.' Read more here about Tesla's driverless cars and Musk's return to the office. Bloomberg News reports: Read more here. Salesforce (CRM) defied conventional thinking by raising its full-year guidance in the face of tariff headwinds late Wednesday, as it posted first quarter profit and revenue beats. But the software giant's stock is trading pretty much flat in Thursday's pre-market — a sign that analysts aren't that jazzed by its results. Yahoo Finance's Brian Sozzi reports on how Wall Street is reacting: Read more from Wall Street here. As a US trade court ruling upends President Trump's trade strategy, Yahoo Finance's Josh Schafer points out the rewards that awaited investors who snapped up tariff-bruised stocks. Read more here. Economic data: First quarter GDP; First quarter personal consumption; Initial jobless claims, (week ended May 24); Pending home sales (April) Earnings: American Eagle (AEO), Best Buy (BBY), Burlington Stores (BURL), Build-a-Bear Workshop (BBW), Costco (COST), Dell (DELL), Foot Locker (FL), Hormel Foods (HRL), Gap (GAP), Marvell Technology (MRVL), Ulta (ULTA), Zscaler (ZS) The United States Court of International Trade has ruled Trump tariffs "unlawful." Meanwhile, Nvidia earnings lifted Wall Street, even as the chipmaker flagged risks relating to AI chip controls. Here are some of the biggest stories you may have missed overnight and early this morning: Trump's tariffs in limbo after trade court's stunning rebuke Nvidia pops, CEO warns US chip curbs boost China rivals Court rules Trump doesn't have authority to impose tariffs Buying the dip hasn't paid off this much in 30 years Nvidia gets a pass after earnings miss: What Wall Street is saying Real winner in GameStop's bitcoin pivot is Strategy Goldman: Trump can offset tariff ruling with other tools Microsoft shares go from laggard to leader as AI growth improves Yahoo Finance's Brian Sozzi reports: Read more here on what Wall Street is saying about Nvidia's quarter. Shares in HP Inc. (HPQ) fell by 8% on Thursday in premarket trading after the company's profit outlook missed estimates and it cut the annual earnings forecast, citing a weaker economy and continuing costs from US tariffs on goods from China. Bloomberg News reports: Read more here. Markets may be celebrating the latest turn in the tariffs saga, but the US trade court's block isn't definitive — and that means there's still cause for concern, some analysts say. Reuters reports: Read more here. A landmark decision by the US Court of International Trade has deemed many of President Trump's tariffs 'unlawful' and sent markets into a global upturn. Reuters reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Home prices are still rising, but at a slower rate: What to know
Home prices are still rising but at a slower pace, with March showing a 3.4% annual gain and a rare monthly decline, according to S&P Corelogic Case-Shiller. Yahoo Finance Senior Reporter Claire Boston joins Wealth to break down what the latest Case-Shiller data means for buyers heading into the summer season. To watch more expert insights and analysis on the latest market action, check out more Wealth here. Home prices are at historic highs and the latest read from the S&P Case-Shiller National Home Price Index shows that potential buyers have had a tough road ahead here. Here to break down the report, we've got Yahoo Finance senior housing reporter Claire Boston. Claire, what is the latest movement on home prices right now? Hi Brad. So in March, we saw a 3.4% annual gain nationally, compared to a year earlier. And that is actually down a little bit from a 4% gain in February. So we're still seeing that home prices are still rising, but that rate of growth is slowing a little bit. And this 3.4% number was a little bit of a bigger deceleration than economists were expecting. One other thing I'm looking at right now is that month over month, prices actually fell a little bit, just 0.3% down nationally. But that's another sign here that the market is slowing a bit even though things are still very, very expensive. Do you think this is going to impact the spring and summer home buying season, which I guess we're kind of in the unofficial start of summer as of right now. Yeah, so this data is from March. And so if you remember back in March, we had not yet had that tariff surprise. Um, we do have a little bit more data about what spring home buying is looking like. And a lot of signs point to a pretty slowing market. So potentially, in the months ahead, we may continue to see that deceleration, you know, maybe a little bit even of a price move down month over month. Some more data here. Zillow and Redfin, they both expect home values to decline by about 1% this year. Are buyers better off waiting? You know, it is really hard to tell. Um, you know, something I talk about all the time is how regional the housing market is. Um, and you know, when you're looking at this Case-Shiller data, places like New York, home prices are up 8%. Chicago is up more than close to 6%. Uh, but then you look at a place like Tampa and prices are down. So it really depends on where you are and what your market is doing. And um, you know, it it just it's hard to tell right now. It's a weird market. Claire, thanks so much. Appreciate it. Thank you.
