Stocks edged higher on Thursday as Wall Street assessed the outlook for President Donald Trump’s tariff agenda, which remains in limbo as federal courts deliberate its legality.

A court ruling invalidating President Trump’s sweeping tariffs was halted hours later, throwing into question the administration’s overall approach to trade.

General Motors CEO Mary Barra said the automaker is increasing its U.S. investment and that Trump's tariffs are a "tool that the administration can use to level the playing field."

The acronym stands for "Trump always chickens out" a jab at the president's propensity to impose or threaten steep tariffs and later back off.

U.S. stocks were slightly higher in choppy afternoon trading on Thursday, with shares of Nvidia gaining after its quarterly results.

Wall Street’s roller-coaster ride created by President Donald Trump’s trade policies whipped back upward on Tuesday, this time because of a delay for his tariffs on the European Union. The S&P 500 leaped 2% in its first trading since Trump said Sunday that the United States will delay a 50% tariff on goods coming from the European Union until July 9 from June 1.

These retreats are so frequent that investors should rationally expect them. So why do markets still react to the initial announcements?” UBS’s Paul Donovan asked.

Asian shares and Wall Street futures climbed in Asia on Thursday after a U.S. federal court blocked President Donald Trump's "Liberation Day" tariffs from going into effect, sending the dollar up on safe haven currencies.