Real-Time Stock Market UpdatesMajor Indexes End in Positive Territory Despite Tariff Uncertainty
The U.S. stock market closed higher on Thursday, May 29, 2025, despite a day of volatility triggered by legal developments surrounding former President Donald Trump’s “reciprocal” tariffs. The S&P 500 gained 0.4% to finish at 5,912.17, the Nasdaq Composite advanced 0.39% to 19,175.87, and the Dow Jones Industrial Average added 117.03 points, or 0.28%, closing at 42,215.73.
Market sentiment fluctuated throughout the session as investors processed a series of judicial developments. The U.S. Court of International Trade ruled Wednesday night that Trump had overstepped his authority when imposing his “reciprocal” tariffs, ordering them to be vacated. However, the Trump administration quickly filed an appeal, and an appeals court reinstated the levies Thursday afternoon, with officials indicating they may ask the Supreme Court as early as Friday to intervene.
“In general, markets don’t like uncertainty, because it makes forecasting more difficult,” said Larry Tentarelli, founder of the Blue Chip Daily Trend Report. “We expect the tariff news cycle to be an extended process, which can lead to higher short-term volatility.”
Nvidia Leads Tech Sector Higher Following Strong Earnings
Technology stocks led the market’s gains, with the sector on track to record its best monthly performance in about a year and a half, jumping around 11% in May.
The chipmaker reported 69% sales growth for the quarter, with its data center division continuing to surge as companies, countries, and cloud providers snap up Nvidia’s graphics processing units (GPUs) for artificial intelligence software.
“The U.S. has based its policy on the assumption that China cannot make AI chips. That assumption was always questionable, and now it’s clearly wrong,” Huang stated during the earnings call.
Cloud providers including Microsoft (MSFT), Google Cloud (GOOGL), Oracle Cloud Infrastructure (ORCL), and Amazon Web Services (AMZN) continue to make up about half of Nvidia’s data center revenue, which reported $39.1 billion in sales during the quarter.
Other Market Movers and Corporate News
Salesforce (CRM) was among the day’s worst performers, tumbling more than 6% as investors reacted to the software company’s quarterly release. The report comes after Salesforce on Tuesday announced it had agreed to pay $8 billion for data management software maker Informatica.
Super Micro Computer and Seagate Technology led the technology sector higher, with both stocks soaring more than 29% in May. Micron and Broadcom were also among the top performers in the sector.
Upcoming Economic Events to Watch
Investors are looking ahead to several key economic reports scheduled for release on Friday, May 30. The Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred inflation gauge, will be released, with economists expecting a 0.1% month-over-month increase and a 2.2% year-over-year rise.
Other important data releases tomorrow include Personal Income, which is expected to increase 0.3% month-over-month, and Personal Spending, forecast to rise 0.2%. The Goods Trade Balance Advanced report for April will also be published, with consensus estimates pointing to a deficit of $141.5 billion.
Market Outlook
Despite ongoing concerns about trade policy and inflation, the broader market has performed well in May. According to Ryan Detrick, chief market strategist at Carson Group, when the S&P 500 returns more than 5% in May, “then the next 12 months have never been lower and [are] up 20% on average.” As of Thursday afternoon, the index was up nearly 6% for the month.
However, analysts remain cautious about the potential impact of Trump’s tariff policies. Goldman Sachs and Morgan Stanley have cautioned that even with the court ruling striking down many of Trump’s tariff measures, the impact may prove limited given that the administration has other avenues to impose import duties.
As May draws to a close with Friday being the final trading day of the month, investors will be closely monitoring the PCE data and further developments in the tariff situation to gauge the market’s direction heading into June.