US Stocks Subdued – Nvidia Rose
US Stocks Close Higher After Volatile Trading Day
US stocks experienced a mixed trading session, initially surging at the open before paring gains to close higher. The Dow Jones Industrial Average finished up 0.3%. The Nasdaq Composite and the S&P 500 both rose by 0.4%.
Nvidia’s Influence
Nvidia, the world’s second most valuable company, saw significant volatility. After being up nearly 6% earlier in the day, the stock closed with a gain of 3.3%. This followed a strong earnings report released on Wednesday evening.
Trump-Era Tariffs in Legal Limbo
A federal court initially blocked a wide range of import tariffs imposed by the Trump administration on trading partners, including the EU. These tariffs included 30% duties on goods from China and 25% duties on certain imports from Mexico and Canada. However, tariffs on vehicles, steel, and aluminum were excluded.
The Trump administration appealed the decision, and a higher court temporarily suspended the block, reinstating the tariffs while the appeal is processed.
“Magnificent Seven” Performance
Nvidia’s performance positively impacted several other major technology companies, often referred to as the “Magnificent Seven.” Amazon, Meta (Facebook), Microsoft, and Tesla all closed in positive territory.
However, Alphabet (Google) and Apple both declined.
Dell’s Positive Outlook
In after-hours trading, Dell shares rose following an increased full-year and current-quarter forecast, despite reporting weaker-than-expected results for the first quarter. The improved outlook is driven by unexpected demand for AI systems. Dell’s first-quarter earnings per share were $1.55, compared to an expected $1.69, while revenue reached $23.38 billion, exceeding the anticipated $23.14 billion.
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