The US stock market is excited about the decision on tariffs, NVIDIA profits and GDP review

• The US Trade Court temporarily cancels Trump’s tariffs.
• Nvidia exceeded the consensus of Wall Street in income and benefits, but the projection for the second quarter is mediocre.
• The US GDP of the first quarter is checked slightly up to the Department of Commerce.
• The main US indices are quoting again near where they started the year.

The news continues to accumulate this week in favor of the continuation of the stock market rally. While analysts predicted the end of the recovery of the rally at the end of last week, the data continues to accumulate in favor of the bullies, and the index weighted by growth of Nasdaq Composite saw an increase of 1.25% in the opening of Thursday.

Late on Wednesday, a group of three panel judges in the US International Trade Court revoked the right of Trump administration to impose tariffs under the Law on International Emergency Emergency Powers. The decision means that The 10% general tariff that the president imposed on all other commercial partners, as well as their national tariffs against Canada, Mexico and China, will no longer be in force. However, specific tariffs on industry on aluminum, steel and cars will remain in force, since they come from a separate legal basis.

Goldman Sachs expects the Trump administration to appeal the decision and also restore tariffs using separate laws in the meantime, but the decision of the International Trade Court definitely aims to limit the president’s commercial management powers.

“The administration could quickly replace the 10% general tariff with a similar tariff of up to 15% under section 122. These tariffs would last up to 150 days, after which the law requires Congress action to extend them,” Write the chief political economist of Goldman, Alec Phillips. Otherwise, the president could also initiate investigations under section 301 on commercial partners to restore permanent tariffs.

Also during Wednesday’s post-market, NVIDIA (NVDA) He offered another double overcoming quarter. The shares rose from $ 135 at the end of Wednesday to open above $ 143 on Thursday. The company won $ 0.81 in EPS adjusted, exceeding $ 0.75 expected by Wall Street. The price of the shares was not dissuaded by a projection of income for the second quarter worse than expected. Nvidia expects an intertramestral income growth, which has regularly exceeded 10% during the last two yearsonly 2% in the current quarter that ends in July.

Finally, the US Department of Commerce published its second estimate of the GDP of the first quarter, -0.2% intertrrimestral, which was an improvement compared to the preliminary -0.3%.

Salesforce (CRM) profits They were less exciting, since analysts pointed out that much of their growth in income came from exchange rate due to the dollar devaluation during the first quarter. CRM shares fell 6% at the opening of Thursday.

In general, the US stock market has returned largely to the levels that he last saw at the beginning of the year. The bulls will probably take advantage of the narrative that, with less fear of tariffs, the profit potential offers a good bet. This is particularly probable with the Trump Tax Cutting Budget bill progressing in the Senate.

Daily graphic of the Nasdaq Composite Ytd (Japanese candles) with S&P500 (red) and Dow Jones (purple)