US stocks ended higher on Thursday as shares of Nvidia gained after its quarterly results, while investors assessed a late-afternoon court ruling that reinstated President Donald Trump’s tariffs. Both the S&P 500 as well as Nasdaq Composite closed 0.4 percent up each, and the Dow Jones Industrial Average added almost 0.3 percent. On the economic front, the US economy shrank at the start of the year, marking its first drop in three years, restrained by weaker consumer spending. Revised Gross domestic product data showed the economy contracted at an annualized rate of 0.2 percent in the first quarter, slightly less than the initial estimates of 0.3 percent decline, according to the second estimate from the Bureau of Economic Analysis. Consumer spending slowed from an initial estimate of 1.8 percent to 1.2 percent, while a spike in imports contributed to a record trade deficit. Meanwhile, the initial claims for state unemployment benefits rose 14,000 to a seasonally adjusted 240,000 for the week ended on 24th of May as per the Labour Department report.
Site Admin | May 30, 2025 6:45 PM
US stocks end higher amid court’s ruling to reinstate Trump’s tariffs
