Stock futures are jumping after a federal court late Wednesday froze most of the tariffs the Trump administration has imposed on U.S. trading partners. The U.S. Court of International Trade ruled President Trump had overstepped his legal authority in assessing a 10% levy in an April 2 barrage of tariffs he referred to as "Liberation Day." The court also blocked a separate set of U.S. duties on China, Mexico and Canada. Futures on the S&P 500 were up 67 points, or 1.1%, to 5,969 as of 7:27 a.m. EST, while contracts on the Dow Jones Industrial Average and Nasdaq Composite rose 0.5% and 1.6%, respectively. "Just when traders thought they'd seen every twist in the tariff saga, the gavel dropped like a lightning bolt over the Pacific," Stephen Innes of SPI Asset Management said in a report. Overseas markets also rose following the surprise legal decision.
U.S. stock futures surged in early trading on Thursday after a federal trade court struck down President Donald Trump’s sweeping “Liberation Day” tariffs and declared the president exceeded his authority by imposing them. A three-judge panel at the Court of International Trade ruled Trump’s tariffs imposed on April 2 should be “set aside,” siding with business groups and Democratic-led states that asked the court to strike the tariffs down as unlawful.
Stocks are higher on Thursday after a federal court blocked President Donald Trump's "reciprocal" tariffs and Nvidia's strong quarterly results. The Dow Jones Industrial Average climbed 39 points, or 0.09%, while the S&P 500 and Nasdaq Composite rose 0.7% and 1.3%, respectively. The U.S. Court of International Trade ruled Wednesday that President Donald Trump overstepped his authority over tariffs under the International Emergency Economic Powers Act (IEEPA). The Trump administration has appealed the court's decision, Reuters reported.
