Global stock markets soared on Thursday, May 29, 2025, driven by a U.S. court ruling against President Trump's tariffs. The S&P 500 and Nasdaq Composite experienced significant gains, propelled by robust performances from tech stocks, particularly Nvidia.
Nvidia reported impressive earnings, further boosting market sentiment. In other developments, E.l.f. Beauty finalized its acquisition of Hailey Bieber's Rhode skincare brand for $1 billion. This acquisition signifies a strategic move within the beauty sector, broadening E.l.f. Beauty's portfolio and presence in the prestige market.
The U.S. trade court's decision to block President Trump's global trade tariffs provided additional impetus. The Court of International Trade stated that the White House had exceeded its authority in imposing these tariffs. This ruling is perceived as a significant shift in economic policy, potentially alleviating trade tensions and fostering market stability.