Stocks rise after U.S. trade court blocks Trump's emergency tariffs
CBSN
Stocks are up on Thursday following an early morning boost after a U.S. court blocked many of President Donald Trump's sweeping tariffs. But the gains got less strong as trading progressed from Asia to New York.
The S&P 500 rose 26 points, or 0.5% as of 1:03 p.m. EST. The Dow Jones Industrial Average was up 26 points, or 0.06%, the Nasdaq composite was .6% higher.
"Investors are keeping their enthusiasm in check for a variety of reasons," Adam Crisafulli, head of Vital Knowledge, said in a research. "To start, the tariff drama isn't over – Trump has other legal avenues to pursue an aggressive tariff agenda, and investors expect he will utilize them. In addition, the popularity of the "TACO Trade" perspective has caused the tariff narrative to ease dramatically in the last couple of weeks, to the point where many people already assumed the overall burden won't be much worse than the 10% baseline when all is said and done," he said.
