Stocks seesawed to end slightly higher Thursday amid conflicting trade news. The Dow Jones industrial average firmed 0.3 percent while the S&P 500 and the Nasdaq both rose 0.4 percent. Long-dated US Treasury yields and the dollar declined, and oil prices dropped.

News late Wednesday that an international trade court had blocked most of President Trump's tariffs lifted stocks at the open but expectations that Trump would use other means to impose tariffs and a second court's suspending the first court's ruling sent stocks lower before they recovered again. Results from technology bellwether Nvidia provided support as they relieved worries of a downside miss.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.