Nvidia Drives Market Rally Amid Court Ruling Against Trump Tariffs

Wall Street gears up for gains as Nvidia reports a 69% surge in sales and a U.S. court rules against Trump's tariffs. This uplift is tempered by Nvidia's warning of sales impact from export restrictions. Companies like AMD and Apple rise, despite broader economic challenges.

Wall Street is poised for a positive trading session as investors react to a significant court ruling and strong earnings from AI leader Nvidia.

Nvidia shares soared 5.6% in premarket trading following a report of a 69% surge in quarterly sales, driven by customers securing AI chips ahead of U.S. export restrictions to China. Despite the impressive sales, Nvidia cautioned that new measures might reduce its current-quarter sales by up to $8 billion.

Investor sentiment received an additional boost as a U.S. court invalidated most tariffs imposed by former President Donald Trump, although some industry-specific tariffs remain unaffected. The ruling can still be challenged in appellate courts, including the U.S. Supreme Court.

(With inputs from agencies.)