Major stock indexes posted early gains after a federal trade court struck down President Trump’s most sweeping tariffs. But that enthusiasm faded during the session, even before a federal appeals court temporarily stayed the decision.

Nvidia stock ended Friday's session down 2.9%, which is about in line with where it closed prior to the earnings pop yesterday. There were good reasons for both days' moves. The advanced semiconductor chip and artificial intelligence (AI) software company exceeded expectations for fiscal Q1 sales with a record $44.