Wall Street Fluctuates as Investors Await Trade Truce Developments
Wall Street markets are experiencing fluctuations while maintaining the gains made earlier in the week, following the announcement of a temporary trade truce between the United States and China.
The S&P 500 index swung between slight gains and losses and showed little change during the first hour of Wednesday’s trading. At 10:02 a.m. Eastern Time, the Dow Jones Industrial Average rose by about 52 points (or 0.1%), while the Nasdaq climbed 0.5%, according to the Associated Press.
Technology stocks were among the top gainers, with Super Micro Computer shares jumping 12.7% after signing a partnership agreement with Saudi Arabia’s DataVolt to develop data centers.
Advanced Micro Devices (AMD) shares also rose 6% after announcing a $6 billion stock buyback program.
The market has shown relative stability since Monday’s rally, which came after the announcement of a 90-day temporary halt in the U.S.-China trade war. Positive momentum continued on Tuesday with the release of government data showing an unexpected slowdown in inflation nationwide in April. Investors now await more data on inflation and retail sales expected Thursday.
The S&P 500 has recovered the losses it incurred since President Donald Trump escalated the trade war in early April. The index is now back in positive territory for the year, just 4.2% below its all-time high recorded in February.
