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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

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Indexes gain: Dow 0.15%, S&P 500 0.24%, Nasdaq 0.22%

(Updates to afternoon trading)

By Caroline Valetkevitch

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

higher in choppy afternoon trading on Thursday, with shares of

Nvidia ( NVDA ) gaining after its quarterly results.

A federal court ruling blocked most of U.S. President

Donald Trump's tariffs, but by Thursday afternoon a U.S. appeals

court had reinstated the tariffs.

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

shares fell 5% even as the enterprise software provider

raised its annual revenue and adjusted profit forecasts.

The earlier U.S. court decision invalidated with immediate

effect most of Trump's sweeping levies imposed since January.

Nvidia ( NVDA ) added 3.3% after reporting

higher-than-expected quarterly sales growth, 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."

The Philadelphia SE Semiconductor index rose in the

wake of Nvidia's ( NVDA ) results, last up 0.3%.

The Dow Jones Industrial Average rose 61.22 points,

or 0.15%, to 42,159.92, the S&P 500 gained 13.26 points,

or 0.24%, to 5,902.94 and the Nasdaq Composite gained

42.11 points, or 0.22%, to 19,143.05.

Boeing ( BA ) climbed 3.3% 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 ) dropped 8% 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.