Stock market futures jump after court halts most Trump's tariffs

Stock futures are jumping after a federal court late Wednesday froze most of the tariffs the Trump administration has imposed on U.S. trading partners. 

The U.S. Court of International Trade ruled President Trump had overstepped his legal authority in assessing a 10% levy in an April 2 barrage of tariffs he referred to as "Liberation Day." The court also blocked a separate set of U.S. duties on China, Mexico and Canada. 

Futures on the S&P 500 were up 67 points, or 1.1%, to 5,969 as of 7:27 a.m. EST, while contracts on the Dow Jones Industrial Average and Nasdaq Composite rose 0.5% and 1.6%, respectively.