Morning Movers: Stocks jump as court blocks tariffs, Nvidia strong again

Stock market futures are rallying, buoyed by a federal court ruling that blocked several of President Donald Trump’s import tariffs. This decision has lifted investor sentiment while Nvidia’s first-quarter earnings report further fueled market optimism.

In other corporate news, Tesla shares rose over 2% after CEO Elon Musk announced he would step down from his government role at the Department of Government Efficiency to refocus on his companies.

Commodity markets are reacting to the tariff news as well. Oil prices advanced alongside equity markets after the U.S. trade court’s decision, with expectations of increased demand and reduced trade barriers. Gold remains steady, while silver prices are on the rise, supported by technical factors and a weaker dollar .

In the cryptocurrency market, Bitcoin is trading near $109,000.

In pre-market trading, S&P 500 futures rose 0.76%, Nasdaq futures rose 1.27% and Dow futures rose 0.18%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly. 

UP AFTER EARNINGS –

• Burlington Stores (BURL) up 7%
• Kohl’s (KSS) up 6%
• Futu Holdings (FUTU) up 6%
• Alarum (ALAR) up 6%
• CIBC (CM) up 3%
• Heico (HEI) up 1%
• Veeva (VEEV) up 13%
• Nvidia (NVDA) up 5%

DOWN AFTER EARNINGS –

• American Woodmark (AMWD) up 3%
• Hormel Foods (HRL) down 2%
• Best Buy (BBY) down 2%
• LiAuto (LI) down 1%
• HP Inc. (HPQ) down 8%