The Rundown Nvidia Rallies on Earnings Beat, E.l.f Beauty Acquires Hailey Bieber Brand for $1B
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May 29, 2025 The stock market update reveals Nvidia's impressive earnings, showcasing resilience despite geopolitical challenges. The hosts discuss the innovative 'taco trade' concept to explain market reactions to tariff threats. Meanwhile, Best Buy struggles with declining sales and legal hurdles. In a surprising move, Elf Beauty grabs headlines with its $1 billion acquisition of Hailey Bieber's skincare brand, Rode, signaling a bold expansion into the beauty industry.
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Understanding the Taco Trade
- The "taco trade" exploits President Trump's pattern of announcing and then pausing tariffs.
- Investors buy the dip expecting market recovery when tariffs are rescinded.
Court Halts Trump's Tariffs
- A federal court halted Trump's tariff authority under the Emergency Powers Act.
- This ruling stops current tariffs and may prevent future tariff impositions temporarily.
Nvidia AI Earnings Boom
- Nvidia reported a 69% revenue jump to $44 billion in Q1, led by AI data center sales.
- Despite export restrictions, the company is near all-time stock highs again.