12:41 PM EDT, 05/29/2025 (MT Newswires) -- US equity indexes traded mixed as Nvidia's ( NVDA ) gains lifted the technology sector and investors weighed the impact of a ruling from the Court of International Trade on the Trump administration's tariff negotiations.

The Nasdaq Composite rose 0.5% to 19,186.7, and the S&P 500 climbed 0.2% to 5,900.7 after midday Thursday. The Dow Jones Industrial Average slipped 0.2% to 42,021.4. Most sectors fell, with communication services leading the decliners. Technology, home to Nvidia ( NVDA ) , was among the few marginal gainers.

Nvidia's ( NVDA ) shares jumped 5% intraday, among the top gainers on the Nasdaq, the Dow, and the S&P 500, after the company overnight reported higher fiscal Q1 non-GAAP earnings and revenue. BofA Securities raised its price target on the chipmaker to $180 from $160. Nvidia ( NVDA ) is "outgrowing" expectations and competition even in the middle of supply constraints, a Morgan Stanley research note said.

A US federal court ruling challenging a series of tariffs imposed by President Donald Trump likely weakens Washington's position in trade talks, but the administration has other tools to push through the tariffs agenda, analysts said Thursday.

The Court of International Trade ruled Wednesday that Trump overstepped his authority by imposing duties under the International Emergency Economic Powers Act. The Trump administration has appealed the ruling, according to media reports.

Most US Treasury yields fell, with the 10-year down 4.9 basis points to 4.43% and the two-year 4.1 basis points lower at 3.95%.

West Texas Intermediate crude oil futures slumped 1% to $61.24 a barrel.