Stocks Surge After Court of International Trade Blocks Trump's Reciprocal Tariffs

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Summary

Stock market futures jump after court halts most Trump's tariffs

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.

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CBS News

US Stock Futures Up After Federal Court Strikes Down Trump’s Tariffs

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.

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Forbes

Nvidia shares jump, tariff ruling lifts stocks, Musk departs DOGE: Live Updates

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.

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Fox Business

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News Results

S&P 500, Nasdaq advance as Nvidia jumps; spotlight on Trump tariff block

The S&P 500 and the Nasdaq rose on Thursday, boosted by Nvidia after the AI-chipmaker posted strong revenue growth, while investors also assessed a federal court ruling that blocked most of U.S. President Donald Trump’s tariffs.

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3d ago

Court ruling against Trump tariffs helps lift stocks — but uncertainty still reigns

U.S. stocks barely edges higher as trading opened Thursday. A federal court ruling striking down some of the Trump administration's tariffs injected a fresh bout of uncertainty into markets. The S&P 500 gained as much as 0.54%, while Dow Jones Industrial Average climbed 0.13%.

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Bank shares rise after US court ruling on Trump's trade tariffs

Bank shares rise after US court ruling on Trump's trade tariffs. Barclays shares were up 1.27 per cent or 4.10p to 328.05p. HSBC shares rose 1.46% or 12.60p to 878.00p, having climbed 28 per cent in the last year.

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3d ago

Wall Street futures, stocks, dollar rally as Trump tariffs hit court roadblock

U.S. federal court blocks President Donald Trump’s “Liberation Day’ tariffs from going into effect. The little-known Manhattan-based Court of International Trade ruled that Trump overstepped his authority. The White House quickly appealed the decision, and could take it all the way to the Supreme Court if needed.

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3d ago

Stocks rally after a federal court halted Trump’s tariffs

Dow futures rose 200 points, or 0.5%. S&P 500 futures were up 1.1%. Nasdaq futures were 1.6% higher, boosted by Nvidia’s strong earnings. The fate of Trump's tariffs remains unclear, so the ruling may ultimately be overturned.

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3d ago

Stocks Climb on Tariff Ruling and Nvidia Earnings

Detailed price information for Qualcomm Inc (QCOM-Q) from The Globe and Mail including charting and trades.

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3d ago

Stocks Climb After Court Blocks Trump’s Tariffs

Futures for the S&P 500 index jumped 1.5 percent, suggesting that stocks will open sharply higher when trading begins in New York. Nvidia, the chip giant, was also pulling the market higher, after it reported strong earnings growth on Wednesday. The latest twist in the on-again, off-again tariff drama is set to “lift investors’ spirits,” wrote Derren Nathan, head of equity research at the brokerage firm Hargreaves Lansdown.

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3d ago

Stocks mixed after court blocks some of Trump's tariffs

The Dow Jones Industrial Average fell 25 points, or 0.06%, while the S&P 500 increased 0.3%. The tech-heavy Nasdaq climbed 0.6% on Thursday. The ruling from the U.S. Court of International Trade late Wednesday marked a major blow for Trump's tariff policy.

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3d ago

Georgia businesses whipsawed by tariff court rulings

Georgia business owners welcomed a court ruling this week to block many of the president’s new tariffs. On Thursday, a federal appeals court reinstated them, at least temporarily, leaving many business leaders uncertain about what to do. A three-judge panel of the U.S. Court of International Trade ruled that Trump overstepped his authority.

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3d ago

Stock Futures Fade Overnight Gains After Activist Judges Block Trump Tariffs, NVDA Earnings Impress

S&P futures up 0.8% at 5,952, erasing half of overnight gains. Nasdaq 100 futures are up 1.4% boosted by NVDA which is +6% after delivering a solid sales forecast. Bond yields are higher pushing the 10Y yield to 4.52%.

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3d ago

Treasury Yields Climb Despite Tariffs Being Blocked, Highlighting Market's Deeper Fiscal Fears

The Kobeissi Letter highlighted the surge in U.S. 10-Year Treasury yields, crossing 4.50%. The “Liberation Day” tariffs were struck down by the U.s. Court of International Trade earlier in the day. Despite what would typically be seen as a pro-growth ruling, the Treasury sell-off suggests investor concerns.

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3d ago