Key Takeaways
- U.S. equities gave up morning gains and were mixed at midday following a federal trade court ruling blocking some of President Donald Trump's tariffs.
- Nvidia posted better-than-expected results and gave an optimistic outlook for artificial intelligence chip demand.
- HP reported worse-than-expected results as the PC and printer maker said tariffs were hurting its business.
U.S. equities were mixed at midday, dropping from their morning highs after a federal trade court blocked some of President Donald Trump's tariffs. The S&P 500 and Nasdaq were up, the 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average fell.
Nvidia (NVDA) shares advanced as the tech giant beat profit and sales estimates and said it sees growth in demand for its 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) chips continuing.
Shares of another AI firm, C3.ai (AI), skyrocketed when the software company reported better-than-expected results on higher demand for 澳洲幸运5官方开奖结果体彩网:generative AI products, and renewed its contract with oilfield services provider Baker Hughes (BKR).
E.l.f. Beauty (ELF) shares took off when the beauty products maker also posted be🌱tter-than-anticipated earning🥀s and revenue, and announced that it had purchased the rhode skin care firm founded by model and socialite Hailey Bieber for up to $1 billion.
HP (HPQ🤪) shares sank after the PC and printer manufacturer's profit and sales missed forecasts, and it reduce♑d its guidance because of the impact of tariffs.
Also cutting its outlook because of tariffs was Best Buy (BBY), and shares of the electronics retailer tumbled. Starbucks (SBUX) shares fell on a downgrade from TD Cowen, which raised concerns about t💦he coffee chain's profit expectations.
Oil futures slipped. Gold prices gained. The yield on the 10-year Treasury note was down. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded higher.
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