️ Things to Know Before the Stock Market Opens
U.S. stock futures are trading sharply higher this morning, fueled by positive earnings reports and a key court decision on trade tariffs. Here are the top stories investors need to know today:1. U.S. Stock Futures Rise on Tariff Ruling and Nvidia Results
Futures for major U.S. indexes are pointing higher. Nasdaq futures are up 1.4%, the S&P 500 is gaining 1%, and Dow futures are up 0.4%, following a court decision that struck down former President Donald Trump’s "reciprocal" tariffs.Markets are also reacting to strong earnings from Nvidia and Salesforce. Meanwhile, Bitcoin (BTCUSD) is trading near $109,000, the 10-year Treasury yield is around 4.51%, oil futures are slightly higher, and gold remains flat.
2. ⚖️ Court Blocks Trump-Era 'Reciprocal' Tariffs
A federal court ruled that former President Trump overstepped his authority by imposing "reciprocal" tariffs without congressional approval. The ruling halts tariffs on imports from Canada, Mexico, and China, aimed at combating fentanyl shipments. The decision does not affect steel and aluminum tariffs from March. The White House has appealed the decision.3. Nvidia Soars After Record Revenue, Despite China Setback
Nvidia (NVDA) stock is up 6% in premarket trading after posting record Q1 revenue of $44.06 billion, a 69% year-over-year increase. While revenue beat estimates, adjusted profit of $0.81 per share came in below expectations due to a $4.5 billion charge related to U.S. restrictions on its H20 chips sold in China.Nvidia projects an $8 billion revenue hit in Q2 due to continued export curbs. Despite this, the company’s strong sales reaffirm its leadership in AI chips.
4. Elon Musk Steps Down From Government Role
Tesla (TSLA) CEO Elon Musk announced on social media platform X that he has ended his role with the Department of Government Efficiency (DOGE). The move comes after investor concerns that his government position was distracting from Tesla and his other ventures. Tesla shares are up 2% in premarket trading.5. Salesforce Beats Q1 Expectations, Raises Outlook
Salesforce (CRM) posted better-than-expected Q1 earnings and raised its full-year forecast. The company reported adjusted EPS of $2.58 on $9.83 billion in revenue, up 8% year-over-year. The beat was driven by strong demand for its AI-powered cloud solutions.Despite shares being down 17% year-to-date, Salesforce remains optimistic, citing strong enterprise adoption of its new AI tools.