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Best Buy ( BBY ) slumps after cutting annual sales, profit

forecasts

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Boeing ( BA ) climbs as CEO aims to boost 737 MAX production

(Updates to close)

By Caroline Valetkevitch

NEW YORK, May 29 (Reuters) - U.S. stocks ended slightly

higher on Thursday as shares of Nvidia ( NVDA ) gained after its

quarterly results, while investors digested a late-afternoon

court ruling that reinstated the most sweeping of President

Donald Trump's tariffs.

The appeals court ruling came a day after a trade court had

ordered an immediate block on the tariffs.

Indexes ended well off their highs of the day. Salesforce ( CRM )

shares fell even as the enterprise software provider

raised its annual revenue and adjusted profit forecasts.

"Trump has already rolled back most of these tariffs anyway,

so these court rulings are just headlines," said Adam Sarhan,

chief executive of 50 Park Investments in New York.

Nvidia ( NVDA ) gained after the company late on Wednesday

reported upbeat sales results, driven by customers stockpiling

AI chips ahead of U.S. export restrictions on China.

The company, however, warned that the new curbs are expected

to cut $8 billion from its current-quarter sales.

Optimism about corporate earnings and Nvidia ( NVDA ) in particular

is providing some support, said Oliver Pursche, senior vice

president, adviser for Wealthspire Advisors in Westport,

Connecticut.

But he added, "As an investor, I don't think there's an

impetus to do anything or change anything, and that's what the

market is reflecting."

According to preliminary data, the S&P 500

gained 23.53 points, or 0.40%, to end at 5,912.08 points,

while the Nasdaq Composite gained 74.77 points, or

0.39%, to 19,175.87. The Dow Jones Industrial Average

rose 118.97 points, or 0.28%, to 42,217.67.

Boeing ( BA ) rose after CEO Kelly Ortberg said the

planemaker aims to increase production of its best-selling 737

MAX jets to 42 aircraft per month in the next few months and

boost output to 47 a month in early 2026.

A second reading from the Commerce Department showed gross

domestic product contracted 0.2% in the first quarter.

Economists polled by Reuters had forecast a 0.3% contraction.

In other earnings, Best Buy ( BBY ) shares fell after the

electronics retailer lowered its annual comparable sales and

profit forecasts amid concerns that U.S. tariffs would weigh on

consumer demand for big-ticket items.