Mumbai, May 30 -- The Dow rose 117.03 points (0.3%) to 42,215.73, the Nasdaq climbed 74.93 points (0.4%) to 19,175.87 and the S&P 500 increased 23.62 points (0.4%) to 5,912.17.

The Federal court blocked President Trump's "reciprocal tariffs" on imports, ruling he overstepped his authority under emergency economic powers. The Court of International Trade stated the tariffs exceeded what the IEEPA allows and dismissed related drug trafficking justifications. The Trump administration appealed, and a higher court temporarily paused the ruling the same day.

NVIDIA's earnings received a positive reaction which also contributed to initial strength on Wall Street, with the AI darling jumping by 3.2% on the day. The jump by shares of Nvidia came...