01:40 PM EDT, 05/29/2025 (MT Newswires) -- US equity indexes traded mixed after midday Thursday as Nvidia's ( NVDA ) fiscal Q1 results overnight boosted technology and as investors evaluated the net outcome of a trade court ruling, casting doubt over the legal basis of the Trump administration's tariff negotiations.

The Nasdaq Composite rose 0.5% to 19,192.1, and the S&P 500 climbed 0.3% to 5,908.2. The Dow Jones Industrial Average was little changed at 42,109.8. All sectors except communication services rose intraday. Technology, home to Nvidia ( NVDA ) , and utilities led the gainers.

Nvidia ( NVDA ) shares jumped 4% intraday, among the top gainers on the Nasdaq, the Dow, and the S&P 500, after the chipmaker overnight reported higher fiscal Q1 non-GAAP earnings and sales. BofA Securities raised its price target on Nvidia ( NVDA ) to $180 from $160. Morgan Stanley said Nvidia ( NVDA ) is "outgrowing" expectations and competition even in the middle of supply constraints.

Analysts expect that a US federal court ruling challenging a series of tariffs imposed by President Donald Trump will weaken Washington's position in trade talks. But, they also said the administration has other tools to push through the tariffs agenda.

The United States Court of International Trade ruled Wednesday that Trump overstepped his authority by imposing duties under the International Emergency Economic Powers Act, which "does not authorize any of the Worldwide, Retaliatory, or Trafficking Tariff Orders." The Trump administration appealed the ruling, according to media reports.

Most US Treasury yields fell, with the 10-year down 6.1 basis points to 4.42% and the two-year traded 5.5 basis points lower at 3.94%.

In economic news, pending home sales fell more than projected in April as elevated mortgage rates dampened buyer enthusiasm, the National Association of Realtors said. The forward-looking indicator of home sales based on contract signings slid by 6.3% month-over-month, compared with a 1% decline that analysts had modeled in a Bloomberg survey. On an annual basis, pending transactions dropped 2.5%.

Meanwhile, the deceleration in US economic growth, measured by gross domestic product, was revised to 0.2% in Q1 from the 0.3% advance estimate of the slowdown, beating expectations for no revision in a Bloomberg-compiled survey. GDP grew 2.4% in Q4.

Further, in company news, Salesforce's ( CRM ) proposed $8 billion acquisition of Informatica ( INFA ) creates deal risk because many of its previous acquisitions are awaiting integration, RBC Capital Markets said in a note. Salesforce's ( CRM ) track record was said to be "mixed," with no full integration, in its recent acquisition of MuleSoft, Tableau, and Slack. Shares of Salesforce ( CRM ) dropped 5.2% intraday, among the steepest decliners on the Dow and the S&P 500.

Best Buy ( BBY ) lowered its full-year outlook, reflecting the impact of import tariffs, and reported fiscal Q1 revenue below market expectations. Shares of the electronics retailer sank 7.8% intraday, among the worst performers on the S&P 500.

The top performer on the index was Nordson ( NDSN ) , up 5.7% intraday after the company said Quasar Medical will acquire its design and development contract manufacturing sites in Galway, Ireland, and Tecate, Mexico.

West Texas Intermediate crude oil futures fell 1.5% to $60.94 a barrel.

Gold futures rose 0.7% to $3,345.21 per ounce.