Four tools at the Trump administration’s disposal after a U.S. court blocks tariffs

Image source: Wikimedia Commons

U.S. President Donald Trump could still find a workaround after suffering a major blow to a core part of his economic agenda. The U.S. Court of International Trade on Wednesday ruled that the president had overstepped his authority by invoking the International Emergency Economic Powers Act to impose sweeping tariffs on numerous countries. The Manhattan-based court ordered a permanent halt to most of Trump’s tariffs and further barred their future modification.

A panel of three judges gave the White House 10 days to complete the formal process of stopping the tariffs. The Trump administration swiftly appealed the ruling. Goldman Sachs economists said the White House has a few tools at its disposal that could ensure the court ruling is only a temporary problem. CNBC reports.

🤖 Nvidia beats on Q1 revenue, sees $8 billion impact from China export rules: Nvidia has become the poster child for the AI boom that kicked off in late 2022 reported mixed first quarter results after the close on Wednesday.

The AI hardware giant reported revenue of $44.1 billion for the quarter, topping analyst estimates of $43.3 billion, according to data compiled by Bloomberg. Nvidia reported $26 billion in the same period last year. Adjusted earnings per share, excluding the charge for the H20 chips, were $0.96, beating estimates for $0.93 and surpassing earnings per share of $0.61 last year. Yahoo Finance reports.

🏭 Markets ask how soon Nippon Steel will benefit from $15 billion bid for U.S. Steel: Nippon Steel investors and analysts are asking if its $15-billion deal to buy U.S. Steel backed but not yet approved by President Donald Trump, is positive for the near term, even if its hopes for strong U.S. demand materialise.

Such a merger would create the world's third-largest steel producer by volume, after China's Baowu Steel Group and Luxembourg-based ArcelorMittal data from the World Steel Association shows. Reuters reports.

📊 Microsoft shares go from laggard to leader as AI growth improves: After languishing for months, Microsoft shares are back within striking distance of a record high amid signs that performance in its Azure cloud-computing business is back on track. The software giant’s shares are about 2% shy of the record reached last July, with their 16% advance in May putting them on track for the best month in more than three years.

The rally has been fueled by the broader rebound in US equities, as well as better-than-expected results from Azure, which investors are betting will continue as artificial intelligence drives more business. “AI is becoming a bigger and bigger component of those revenues,” said Nancy Tengler, chief executive officer at Laffer Tengler Investments. “I do think it’s a sustainer.” Yahoo Finance reports.

👩‍💼 Salesforce delivers an earnings surprise, but bears on the stock still lurk: Salesforce did something late Wednesday that most of Corporate America hasn't done this earnings season: Raise its full-year sales and profit guidance despite numerous economic headwinds.

"Everything went well for us this quarter. We had bookings go well, revenue went well, and currency went well," Salesforce co-founder and CEO Marc Benioff told Yahoo Finance. "We're just seeing some incredible results from customers." Shares in the software giant edged into the green in pre-market trading on Thursday. Yahoo Finance reports.

🏥 Omada Health targets valuation of over $1 billion in US IPO: Virtual chronic care provider Omada Health is targeting a valuation of about $1.1 billion in its initial public offering in the United States, signaling a comeback for capital markets after several months of slowdown in listings.

The company said on Thursday it would sell 7.9 million shares in a range of $18 to $20 per share, potentially fetching up to $158 million if priced at the upper limit. While U.S. President Donald Trump's tariff whiplash has roiled markets and cast a shadow on new listings, companies in sectors perceived as less sensitive to economic headwinds are pushing ahead with their initial public offerings. Yahoo Finance reports.

🛒 Costco reports earnings today. Here’s why its results might not change investors’ perceptions: With Wall Street’s focus still squarely on tariffs, one more large retailer, Costco, reports quarterly results after the closing bell today, after many of its peers have tried to convey restraint on raising prices.

But heading into the results, analysts have offered up a similar refrain on the big-box chain: Its size is its advantage — with both the suppliers it buys from and the customers it sells to — as lower- and higher-income shoppers continue to seek out deals and navigate rising costs of living. Market Watch reports.

🛫JetBlue, United tie up to let passengers book on both websites: JetBlue Airways and United Airlines unveiled on Thursday plans for a consumer collaboration that allows travelers to book flights on both carriers' websites, while interchangeably earning and using points in their frequent flyer programs.

Under the deal, dubbed "Blue Sky", which is subject to approval from U.S. regulators, JetBlue will provide United access to slots at New York's JFK airport for up to seven daily round-trip flights, beginning in 2027. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $NAOV: NanoVibronix

Total gain: +67.13%

2) $PLRZ: Polyrizon

Total gain: +25.24%

3) $ORIC: ORIC Pharmaceuticals

Total gain: +21.27%

4) $IMNN: Imunon

Total gain: +20.06%

5) $AI: C3.ai

Total gain: +17.68%

The closing price of the top three market percent gainers trading near or above $3 on May 28.
Benzinga reports.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) $SPRO: Spero Therapeutics

Total gain: +247.37%

The company announced that the pivotal Phase 3 PIVOT-PO trial evaluating tebipenem HBr—an investigational oral treatment for complicated urinary tract infections, including pyelonephritis—met its primary endpoint and will stop early for efficacy. Yahoo Finance reports.

2) $SGN: Signing Day Sports

Total gain: +159.03%

The stock appeared to be moving on no notable news.

3) $HOLO: MicroCloud Hologram

Total gain: +68.37%

The stock appeared to be moving on no notable news.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

COST: Costco Wholesale
3Q 2025

After Market Close
Estimate: 4.210
Actual: N/A

DELL: Dell Technologies
1Q 2026

After Market Close
Estimate: 1.670
Actual: N/A

ULTA: Ulta Beauty
1Q 2025

After Market Close
Estimate: 5.770
Actual: N/A

Time (ET) / Report / Period

8:30 am - Initial jobless claims - May 24

8:30 am - GDP (First revision) - Q1

"Wall Street research is strongly biased toward the majority. If you follow the herd, you're probably going to get herd-like returns."

- Joel Greenblatt

Sourced in: "You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock
Market Profits", by Joel Greenblatt, published in 1997