Overview

• The Court of International Trade halted most of President Trump’s tariffs Wednesday before granting a stay that keeps duties in place through next week
• Futures tied to the Dow Jones Industrial Average, S&P 500 and Nasdaq 100 were little changed on Thursday as investors awaited clarity on U.S. trade policy
• Gap’s shares plunged over 16% after its earnings beat for Q1 was overshadowed by guidance calling for flat revenue in Q2
• Costco topped analyst forecasts with $4.28 per share on $63.2 billion in revenue, while Dell Technologies jumped more than 5% after raising its full-year earnings outlook
• The S&P 500 has risen more than 6% this month and the Nasdaq Composite is up about 10% as markets anticipate Friday’s personal consumption expenditures inflation reading