S&P 500 (NYSEARCA: SPY) Live: Markets Edge Higher on Tariff and Tech Relief
Key Points
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Stocks are taking modest ground after a court rebuffed President Trump’s retaliatory tariffs.
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Nvidia’s fiscal Q1 2026 earnings didn’t disappoint, buoying the stock and the broader tech sector today.
Live Updates
Mag 7 Stocks in Focus
The Magnificent 7 stocks may not be repeating the bull market performance of 2023 and 2024, but they have made an impressive run of late, buoying their combined market cap to $16.8 trillion, compared with $13.2 trillion in early April when reciprocal tariffs first kicked in. The SPY ETF is currently up 0.19%.
Monetary Policy
Chicago Federal Reserve Bank President Austan Goolsbee is making the speaking rounds today on tariffs and interest rates. While he didn’t speak directly to the court’s decision to rebuff President Trump’s retaliatory tariffs as an overreach, he did suggest that if tariffs could be sidestepped altogether through trade partner deals or other actions, the Fed would be more likely to lower interest rates. Goolsbee previously noted that inflation was inching closer to the central bank’s 2% target. The Dow Jones Industrial Average has turned negative, while the Nasdaq Composite and S&P 500 are holding into fractional gains. The SPY ETF is up 0.27%. Trade policy uncertainty appears to be holding the markets back from further gains.
Stocks in Focus
Bank of America has reiterated its “buy” rating on Salesforce (NYSE: CRM | CRM Price Prediction) following the company’s Q1 earnings report. CRM shares are under pressure, falling 6.5% today.
JPMorgan has reiterated its “overweight’ rating on PC maker HP (NYSE: HPQ) after the company lowered its profit guidance. The analysts spot positive catalysts up ahead that should outweigh the tariff impact.
Citi analysts have added AppLovin (Nasdsaq: APP) to their top picks, hinting it could soon gain a spot in S&P 500.
This article will be updated throughout the day, so check back often for more daily updates.
The markets are feeling relief today, with all three key stock averages climbing higher right from the opening bell. This uplift comes after a federal court moved to block President Trump’s reciprocal tariffs, deeming them an overreach and ordering their removal. The White House is expected to blaze another tariff trail, but the markets are seeing it as a positive for now. The SPY ETF is up 0.34% as of mid-morning trading. Here’s a look at the index performance over the past five days:
Stock performance throughout 2025 has been heavily influenced by headlines, and this time, the news is providing a tailwind. Most economic sectors are enjoying gains today, spearheaded by a robust 1.8% advance in technology stocks.
Adding to today’s positive momentum is Magnificent Seven component Nvidia (Nasdaq: NVDA), whose quarterly earnings results exceeded expectations on both revenue and profit, propelling the stock up by 4.9%. Nvidia’s data center segment, the powerhouse of its AI innovations, reported an impressive 73% growth, effectively quelling concerns that tariff impacts or China headwinds would dampen AI demand. Notably, Nvidia’s U.S. revenue alone crossed the $20 billion mark for the first time.
Following these stellar results, Wall Street analysts reassessed NVDA shares. JPMorgan reaffirmed its ‘overweight’ rating on the stock, accompanied by a $170 price target, while UBS maintained its ‘buy’ rating with an optimistic price target of $175 per share
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 5.32 (+0.04%)
Nasdaq Composite: Up 76.29 (+0.40%)
S&P 500: Up 13.37 (+0.23%)
Market Movers
Tempus AI (Nasdaq: TEM) is rising 1.5% as it reclaims some recently lost territory. TEM lost 20% of its value on Wednesday in a sharp sell-off.
Electronics retailer Best Buy (NYSE: BBY) is off 6.5% after management lowered full-year guidance, blaming the tariff effect.
Nordson (Nasdaq: NDSN) is rallying 10% on a new deal with Quasar Medical.
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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