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Stock Market News Today, 5/29/25 – Futures Edge Higher as Court Blocks Trump Tariffs and Nvidia Posts Q1 Beat

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U.S. futures traded higher on Thursday following a court ruling against Trump’s tariffs and strong Q1 earnings from Nvidia.

Stock Market News Today, 5/29/25 – Futures Edge Higher as Court Blocks Trump Tariffs and Nvidia Posts Q1 Beat

U.S. stock futures edged higher on Thursday, buoyed by a federal court’s decision to block President Donald Trump’s “reciprocal” tariffs and a strong Q1 FY26 earnings report from Nvidia (NVDA). Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 1.88%, 1.11%, and 1.5%, respectively, at 5:07 a.m. EST, May 29.

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During Wednesday’s regular trading session, the Dow Jones, the S&P 500, and the Nasdaq Composite (NDAQ) each declined by about 0.6%, as investors reacted to Federal Reserve meeting minutes and awaited Nvidia’s quarterly earnings.

On Wednesday night, a U.S. court ruled that Trump went beyond his power when he imposed the “reciprocal” tariffs and canceled those tariff orders. While trade policy uncertainty remains, this decision eased investors’ concerns for now.

In after-hours trading, Nvidia shares jumped nearly 5% after the company beat expectations with strong first-quarter results, including a 73% year-over-year rise in its data center business. Salesforce (CRM) stock also rose over 2% after reporting strong quarterly results.

In a separate development, Tesla’s (TSLA) CEO Elon Musk announced that he is stepping down from his government role as a top adviser to President Trump.

Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.52%. Simultaneously, WTI crude oil futures are trending higher, hovering near $62.55 per barrel as of the last check.

Elsewhere, European indices opened higher on Thursday following the U.S. court’s decision to halt tariffs.

Asia-Pacific Markets Ended Higher Today

Most Asia-Pacific markets closed higher today after a U.S. federal trade court ruled that President Trump overstepped his authority with his “reciprocal” tariffs.

Hong Kong’s Hang Seng Index was up 1.39%. Also, Japan’s Nikkei and Topix indices gained 1.88% and 1.53%, respectively. At the same time, China’s Shanghai Composite and Shenzhen Component indices closed higher by 0.70% and 1.24%, respectively. 

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