FX.co ★ US Futures Rise on Nvidia, Trade Court Block

US stock futures pared some earlier gains but remained in positive territory on Thursday. The S&P 500 futures increased by 0.8%, the Nasdaq 100 rose by 1.4%, and Dow Jones contracts gained nearly 90 points. Nvidia shares surged over 5% in premarket trading following the release of the company's strong earnings report and optimistic outlook for the current quarter. Nvidia's CEO emphasized that the AI computing market is still poised for "exponential growth." Additionally, market sentiment was bolstered by a decision from the US Court of International Trade, which ruled that President Trump exceeded his authority in instituting reciprocal tariffs and instructed the administration to cease their collection. While the final resolution might be determined by higher courts, this ruling alleviated some concerns related to the trade war. On the economic side, the second estimate indicated that the US GDP shrank by 0.2% in the first quarter of 2025, a slight improvement from the initial estimate of a 0.3% decline. Nonetheless, corporate profits declined by 3.6% during the same period.