Latest news with #SESemiconductor
The Advertiser
3 days ago
- Business
- The Advertiser
Wall St gains after court blocks most Trump tariffs
Wall Street's main indexes have risen after a federal court ruled against most of US President Donald Trump's tariffs and AI bellwether Nvidia reported a 69 per cent surge in quarterly sales. Nvidia jumped 5.0 per cent after reporting higher-than-expected quarterly sales growth, driven by customers stockpiling AI chips ahead of US export restrictions on China. The company, however, warned that the new curbs are expected to cut $US8 billion ($A12 billion) from its current-quarter sales. "We're in a secular growth trajectory here for AI, AI investment, and everything seems to be lining up for the next kind of multi-quarter expansion across AI," said David Russell, global head of market strategy at TradeStation. The Philadelphia SE Semiconductor index rose in the wake of Nvidia's results, last up 1.4 per cent. Eight of the 11 major S&P 500 sub-sectors rose, with information technology and consumer discretionary being the biggest gainers. Global risk appetite was boosted after a US court invalidated with immediate effect most of Trump's sweeping levies imposed since January, but did not address some industry-specific tariffs on cars, steel and aluminium. "Even if the ruling is upheld, the administration will have alternative routes to implement tariffs. But these will be slower and more targeted, as opposed to the current sweeping approach," said Lizzy Galbraith, senior political economist at Aberdeen. Kevin Hassett, the White House economic adviser, said three trade deals were nearly done and he expected more despite the judgment. In early trading on Thursday, the Dow Jones Industrial Average rose 51.16 points, or 0.12 per cent, to 42,149.86, the S&P 500 gained 32.60 points, or 0.55 per cent, to 5,921.01 and the Nasdaq Composite gained 173.41 points, or 0.91 per cent, to 19,273.71. Dow component Salesforce weighed on the index, with its shares slumping 5.4 per cent even as the enterprise software provider raised its annual revenue and adjusted profit forecasts. Apple, which Trump threatened with tariffs last week, rose nearly 1 per cent. Tesla rose 2.2 per cent and Amazon added 1.2 per cent among megacap and growth stocks. The S&P 500 is currently about 3.0 per cent below an all-time high touched on February 19, rebounding from a nearly 19 per cent decline earlier in April on easing trade tensions, strong earnings and subdued inflation data that aided risk appetite. May has been a solid month for equities, with both the S&P 500 and the Nasdaq on pace for their best monthly performances since November 2023. A second reading from the Commerce Department showed gross domestic product contracted 0.2 per cent in the first quarter. Economists polled by Reuters had forecast a 0.3 per cent contraction. At least five Fed policymakers including Fed Board Governor Adriana Kugler are scheduled to speak through the day. In other earnings, Best Buy dropped 7.5 per cent after the electronics retailer lowered its annual comparable sales and profit forecasts amid concerns that US tariffs would weigh on consumer demand for big-ticket items. Advancing issues outnumbered decliners by a 2.63-to-1 ratio on the NYSE and by a 1.73-to-1 ratio on the Nasdaq. The S&P 500 posted five new 52-week highs and no new lows, while the Nasdaq Composite recorded 25 new highs and 23 new lows. Wall Street's main indexes have risen after a federal court ruled against most of US President Donald Trump's tariffs and AI bellwether Nvidia reported a 69 per cent surge in quarterly sales. Nvidia jumped 5.0 per cent after reporting higher-than-expected quarterly sales growth, driven by customers stockpiling AI chips ahead of US export restrictions on China. The company, however, warned that the new curbs are expected to cut $US8 billion ($A12 billion) from its current-quarter sales. "We're in a secular growth trajectory here for AI, AI investment, and everything seems to be lining up for the next kind of multi-quarter expansion across AI," said David Russell, global head of market strategy at TradeStation. The Philadelphia SE Semiconductor index rose in the wake of Nvidia's results, last up 1.4 per cent. Eight of the 11 major S&P 500 sub-sectors rose, with information technology and consumer discretionary being the biggest gainers. Global risk appetite was boosted after a US court invalidated with immediate effect most of Trump's sweeping levies imposed since January, but did not address some industry-specific tariffs on cars, steel and aluminium. "Even if the ruling is upheld, the administration will have alternative routes to implement tariffs. But these will be slower and more targeted, as opposed to the current sweeping approach," said Lizzy Galbraith, senior political economist at Aberdeen. Kevin Hassett, the White House economic adviser, said three trade deals were nearly done and he expected more despite the judgment. In early trading on Thursday, the Dow Jones Industrial Average rose 51.16 points, or 0.12 per cent, to 42,149.86, the S&P 500 gained 32.60 points, or 0.55 per cent, to 5,921.01 and the Nasdaq Composite gained 173.41 points, or 0.91 per cent, to 19,273.71. Dow component Salesforce weighed on the index, with its shares slumping 5.4 per cent even as the enterprise software provider raised its annual revenue and adjusted profit forecasts. Apple, which Trump threatened with tariffs last week, rose nearly 1 per cent. Tesla rose 2.2 per cent and Amazon added 1.2 per cent among megacap and growth stocks. The S&P 500 is currently about 3.0 per cent below an all-time high touched on February 19, rebounding from a nearly 19 per cent decline earlier in April on easing trade tensions, strong earnings and subdued inflation data that aided risk appetite. May has been a solid month for equities, with both the S&P 500 and the Nasdaq on pace for their best monthly performances since November 2023. A second reading from the Commerce Department showed gross domestic product contracted 0.2 per cent in the first quarter. Economists polled by Reuters had forecast a 0.3 per cent contraction. At least five Fed policymakers including Fed Board Governor Adriana Kugler are scheduled to speak through the day. In other earnings, Best Buy dropped 7.5 per cent after the electronics retailer lowered its annual comparable sales and profit forecasts amid concerns that US tariffs would weigh on consumer demand for big-ticket items. Advancing issues outnumbered decliners by a 2.63-to-1 ratio on the NYSE and by a 1.73-to-1 ratio on the Nasdaq. The S&P 500 posted five new 52-week highs and no new lows, while the Nasdaq Composite recorded 25 new highs and 23 new lows. Wall Street's main indexes have risen after a federal court ruled against most of US President Donald Trump's tariffs and AI bellwether Nvidia reported a 69 per cent surge in quarterly sales. Nvidia jumped 5.0 per cent after reporting higher-than-expected quarterly sales growth, driven by customers stockpiling AI chips ahead of US export restrictions on China. The company, however, warned that the new curbs are expected to cut $US8 billion ($A12 billion) from its current-quarter sales. "We're in a secular growth trajectory here for AI, AI investment, and everything seems to be lining up for the next kind of multi-quarter expansion across AI," said David Russell, global head of market strategy at TradeStation. The Philadelphia SE Semiconductor index rose in the wake of Nvidia's results, last up 1.4 per cent. Eight of the 11 major S&P 500 sub-sectors rose, with information technology and consumer discretionary being the biggest gainers. Global risk appetite was boosted after a US court invalidated with immediate effect most of Trump's sweeping levies imposed since January, but did not address some industry-specific tariffs on cars, steel and aluminium. "Even if the ruling is upheld, the administration will have alternative routes to implement tariffs. But these will be slower and more targeted, as opposed to the current sweeping approach," said Lizzy Galbraith, senior political economist at Aberdeen. Kevin Hassett, the White House economic adviser, said three trade deals were nearly done and he expected more despite the judgment. In early trading on Thursday, the Dow Jones Industrial Average rose 51.16 points, or 0.12 per cent, to 42,149.86, the S&P 500 gained 32.60 points, or 0.55 per cent, to 5,921.01 and the Nasdaq Composite gained 173.41 points, or 0.91 per cent, to 19,273.71. Dow component Salesforce weighed on the index, with its shares slumping 5.4 per cent even as the enterprise software provider raised its annual revenue and adjusted profit forecasts. Apple, which Trump threatened with tariffs last week, rose nearly 1 per cent. Tesla rose 2.2 per cent and Amazon added 1.2 per cent among megacap and growth stocks. The S&P 500 is currently about 3.0 per cent below an all-time high touched on February 19, rebounding from a nearly 19 per cent decline earlier in April on easing trade tensions, strong earnings and subdued inflation data that aided risk appetite. May has been a solid month for equities, with both the S&P 500 and the Nasdaq on pace for their best monthly performances since November 2023. A second reading from the Commerce Department showed gross domestic product contracted 0.2 per cent in the first quarter. Economists polled by Reuters had forecast a 0.3 per cent contraction. At least five Fed policymakers including Fed Board Governor Adriana Kugler are scheduled to speak through the day. In other earnings, Best Buy dropped 7.5 per cent after the electronics retailer lowered its annual comparable sales and profit forecasts amid concerns that US tariffs would weigh on consumer demand for big-ticket items. Advancing issues outnumbered decliners by a 2.63-to-1 ratio on the NYSE and by a 1.73-to-1 ratio on the Nasdaq. The S&P 500 posted five new 52-week highs and no new lows, while the Nasdaq Composite recorded 25 new highs and 23 new lows. Wall Street's main indexes have risen after a federal court ruled against most of US President Donald Trump's tariffs and AI bellwether Nvidia reported a 69 per cent surge in quarterly sales. Nvidia jumped 5.0 per cent after reporting higher-than-expected quarterly sales growth, driven by customers stockpiling AI chips ahead of US export restrictions on China. The company, however, warned that the new curbs are expected to cut $US8 billion ($A12 billion) from its current-quarter sales. "We're in a secular growth trajectory here for AI, AI investment, and everything seems to be lining up for the next kind of multi-quarter expansion across AI," said David Russell, global head of market strategy at TradeStation. The Philadelphia SE Semiconductor index rose in the wake of Nvidia's results, last up 1.4 per cent. Eight of the 11 major S&P 500 sub-sectors rose, with information technology and consumer discretionary being the biggest gainers. Global risk appetite was boosted after a US court invalidated with immediate effect most of Trump's sweeping levies imposed since January, but did not address some industry-specific tariffs on cars, steel and aluminium. "Even if the ruling is upheld, the administration will have alternative routes to implement tariffs. But these will be slower and more targeted, as opposed to the current sweeping approach," said Lizzy Galbraith, senior political economist at Aberdeen. Kevin Hassett, the White House economic adviser, said three trade deals were nearly done and he expected more despite the judgment. In early trading on Thursday, the Dow Jones Industrial Average rose 51.16 points, or 0.12 per cent, to 42,149.86, the S&P 500 gained 32.60 points, or 0.55 per cent, to 5,921.01 and the Nasdaq Composite gained 173.41 points, or 0.91 per cent, to 19,273.71. Dow component Salesforce weighed on the index, with its shares slumping 5.4 per cent even as the enterprise software provider raised its annual revenue and adjusted profit forecasts. Apple, which Trump threatened with tariffs last week, rose nearly 1 per cent. Tesla rose 2.2 per cent and Amazon added 1.2 per cent among megacap and growth stocks. The S&P 500 is currently about 3.0 per cent below an all-time high touched on February 19, rebounding from a nearly 19 per cent decline earlier in April on easing trade tensions, strong earnings and subdued inflation data that aided risk appetite. May has been a solid month for equities, with both the S&P 500 and the Nasdaq on pace for their best monthly performances since November 2023. A second reading from the Commerce Department showed gross domestic product contracted 0.2 per cent in the first quarter. Economists polled by Reuters had forecast a 0.3 per cent contraction. At least five Fed policymakers including Fed Board Governor Adriana Kugler are scheduled to speak through the day. In other earnings, Best Buy dropped 7.5 per cent after the electronics retailer lowered its annual comparable sales and profit forecasts amid concerns that US tariffs would weigh on consumer demand for big-ticket items. Advancing issues outnumbered decliners by a 2.63-to-1 ratio on the NYSE and by a 1.73-to-1 ratio on the Nasdaq. The S&P 500 posted five new 52-week highs and no new lows, while the Nasdaq Composite recorded 25 new highs and 23 new lows.
West Australian
3 days ago
- Business
- West Australian
Wall St gains after court blocks most Trump tariffs
Wall Street's main indexes have risen after a federal court ruled against most of US President Donald Trump's tariffs and AI bellwether Nvidia reported a 69 per cent surge in quarterly sales. Nvidia jumped 5.0 per cent after reporting higher-than-expected quarterly sales growth, driven by customers stockpiling AI chips ahead of US export restrictions on China. The company, however, warned that the new curbs are expected to cut $US8 billion ($A12 billion) from its current-quarter sales. "We're in a secular growth trajectory here for AI, AI investment, and everything seems to be lining up for the next kind of multi-quarter expansion across AI," said David Russell, global head of market strategy at TradeStation. The Philadelphia SE Semiconductor index rose in the wake of Nvidia's results, last up 1.4 per cent. Eight of the 11 major S&P 500 sub-sectors rose, with information technology and consumer discretionary being the biggest gainers. Global risk appetite was boosted after a US court invalidated with immediate effect most of Trump's sweeping levies imposed since January, but did not address some industry-specific tariffs on cars, steel and aluminium. "Even if the ruling is upheld, the administration will have alternative routes to implement tariffs. But these will be slower and more targeted, as opposed to the current sweeping approach," said Lizzy Galbraith, senior political economist at Aberdeen. Kevin Hassett, the White House economic adviser, said three trade deals were nearly done and he expected more despite the judgment. In early trading on Thursday, the Dow Jones Industrial Average rose 51.16 points, or 0.12 per cent, to 42,149.86, the S&P 500 gained 32.60 points, or 0.55 per cent, to 5,921.01 and the Nasdaq Composite gained 173.41 points, or 0.91 per cent, to 19,273.71. Dow component Salesforce weighed on the index, with its shares slumping 5.4 per cent even as the enterprise software provider raised its annual revenue and adjusted profit forecasts. Apple, which Trump threatened with tariffs last week, rose nearly 1 per cent. Tesla rose 2.2 per cent and Amazon added 1.2 per cent among megacap and growth stocks. The S&P 500 is currently about 3.0 per cent below an all-time high touched on February 19, rebounding from a nearly 19 per cent decline earlier in April on easing trade tensions, strong earnings and subdued inflation data that aided risk appetite. May has been a solid month for equities, with both the S&P 500 and the Nasdaq on pace for their best monthly performances since November 2023. A second reading from the Commerce Department showed gross domestic product contracted 0.2 per cent in the first quarter. Economists polled by Reuters had forecast a 0.3 per cent contraction. At least five Fed policymakers including Fed Board Governor Adriana Kugler are scheduled to speak through the day. In other earnings, Best Buy dropped 7.5 per cent after the electronics retailer lowered its annual comparable sales and profit forecasts amid concerns that US tariffs would weigh on consumer demand for big-ticket items. Advancing issues outnumbered decliners by a 2.63-to-1 ratio on the NYSE and by a 1.73-to-1 ratio on the Nasdaq. The S&P 500 posted five new 52-week highs and no new lows, while the Nasdaq Composite recorded 25 new highs and 23 new lows.
Perth Now
3 days ago
- Business
- Perth Now
Wall St gains after court blocks most Trump tariffs
Wall Street's main indexes have risen after a federal court ruled against most of US President Donald Trump's tariffs and AI bellwether Nvidia reported a 69 per cent surge in quarterly sales. Nvidia jumped 5.0 per cent after reporting higher-than-expected quarterly sales growth, driven by customers stockpiling AI chips ahead of US export restrictions on China. The company, however, warned that the new curbs are expected to cut $US8 billion ($A12 billion) from its current-quarter sales. "We're in a secular growth trajectory here for AI, AI investment, and everything seems to be lining up for the next kind of multi-quarter expansion across AI," said David Russell, global head of market strategy at TradeStation. The Philadelphia SE Semiconductor index rose in the wake of Nvidia's results, last up 1.4 per cent. Eight of the 11 major S&P 500 sub-sectors rose, with information technology and consumer discretionary being the biggest gainers. Global risk appetite was boosted after a US court invalidated with immediate effect most of Trump's sweeping levies imposed since January, but did not address some industry-specific tariffs on cars, steel and aluminium. "Even if the ruling is upheld, the administration will have alternative routes to implement tariffs. But these will be slower and more targeted, as opposed to the current sweeping approach," said Lizzy Galbraith, senior political economist at Aberdeen. Kevin Hassett, the White House economic adviser, said three trade deals were nearly done and he expected more despite the judgment. In early trading on Thursday, the Dow Jones Industrial Average rose 51.16 points, or 0.12 per cent, to 42,149.86, the S&P 500 gained 32.60 points, or 0.55 per cent, to 5,921.01 and the Nasdaq Composite gained 173.41 points, or 0.91 per cent, to 19,273.71. Dow component Salesforce weighed on the index, with its shares slumping 5.4 per cent even as the enterprise software provider raised its annual revenue and adjusted profit forecasts. Apple, which Trump threatened with tariffs last week, rose nearly 1 per cent. Tesla rose 2.2 per cent and Amazon added 1.2 per cent among megacap and growth stocks. The S&P 500 is currently about 3.0 per cent below an all-time high touched on February 19, rebounding from a nearly 19 per cent decline earlier in April on easing trade tensions, strong earnings and subdued inflation data that aided risk appetite. May has been a solid month for equities, with both the S&P 500 and the Nasdaq on pace for their best monthly performances since November 2023. A second reading from the Commerce Department showed gross domestic product contracted 0.2 per cent in the first quarter. Economists polled by Reuters had forecast a 0.3 per cent contraction. At least five Fed policymakers including Fed Board Governor Adriana Kugler are scheduled to speak through the day. In other earnings, Best Buy dropped 7.5 per cent after the electronics retailer lowered its annual comparable sales and profit forecasts amid concerns that US tariffs would weigh on consumer demand for big-ticket items. Advancing issues outnumbered decliners by a 2.63-to-1 ratio on the NYSE and by a 1.73-to-1 ratio on the Nasdaq. The S&P 500 posted five new 52-week highs and no new lows, while the Nasdaq Composite recorded 25 new highs and 23 new lows.
