The S&P 500 ended little changed on Wednesday, struggling for direction after a strong start to the week that pulled the index into positive territory for 2025. While the broader market paused, technology stocks continued to surge, lifting overall investor mood.
The S&P 500 eked out a modest 0.06 percent gain, while the tech-heavy Nasdaq Composite climbed 0.4 percent. The Dow Jones Industrial Average, however, slipped 140 points, or 0.3 percent.
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Chipmakers were among the day’s top performers. Nvidia rose over 3 percent after reports that it would ship 18,000 high-end AI chips to Saudi Arabia. Shares of AMD rallied more than 5 percent following the announcement of a $6 billion stock buyback.
With this week’s rally, the S&P 500 and Dow have climbed over 4 percent and 1 percent, respectively, while the Nasdaq has jumped more than 6 percent. The S&P 500, which had been down more than 20 percent from its February peak at one point, has now rebounded over 21 percent from its April 7 intraday low.
The shift in sentiment comes as tensions between the U.S. and China ease, following a weekend agreement to temporarily lower tariffs. Washington reduced duties on Chinese goods to 30 percent, while Beijing slashed tariffs on U.S. imports to 10 percent—both countries backing away from earlier threats to impose levies exceeding 100 percent.
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While markets are buoyed by the tariff truce, a comprehensive deal between the two economic giants remains elusive. President Trump has indicated that a final agreement is unlikely in the near term.
For now, the 90-day pause in the most aggressive tariff threats has helped soothe worries of a 2025 recession, keeping risk appetite intact, at least temporarily.
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