India, May 29 -- After ending yesterday's choppy trading session mostly lower, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the S&P 500 futures up by 0.8 percent.
Early buying interest is likely to be generated in reaction to news that a federal court blocked President Donald Trump's "reciprocal tariffs" on imports from U.S. trade partners from going into effect.
The Court Of International Trade ruled Trump overstepped his authority to impose the tariffs by invoking emergency economic powers.
"The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means ...