FX.co ★ Nvidia Fuels Gains on Wall Street

On Thursday, the S&P 500 advanced 0.8%, the Nasdaq increased by 1.4%, and the Dow Jones climbed nearly 35 points. This positive movement was bolstered by Nvidia's shares surging over 6% following the company’s announcement of robust earnings and an optimistic forecast for the upcoming quarter. The CEO emphasized that the AI computing market is poised for "exponential growth." Additionally, investor sentiment was buoyed by a decision from the US Court of International Trade, which concluded that President Trump had overstepped his authority with reciprocal tariff impositions and instructed a cessation of their collection. Although higher courts may ultimately resolve this issue, the ruling provided a temporary respite amid trade war concerns. Economically, the second estimate indicated that the US GDP decreased by 0.2% in the first quarter of 2025, a slight improvement from the initial estimate of a 0.3% decline. Nonetheless, corporate profits saw a decline of 3.6% over the same period. Among the sectors, technology showed superior performance, whereas consumer staples, utilities, and industrials experienced declines.