Wall Street’s key indices were drifting on Wednesday as Donald Trump’s Gulf tour stoked hopes of more trade deals.

US President Donald Trump, who is on a tour of the Gulf states, secured $600 billion in commitments from Saudi Arabia.

On Tuesday, several US technology companies also announced artificial intelligence-related deals in the Middle East.

At 10:00 AM, the Dow Jones Industrial Average rose 29.97 points, or 0.07%, to 42,170.40, the S&P 500 gained 1.61 points, or 0.03%, to 5,888.16, and the Nasdaq Composite gained 50.26 points, or 0.26%, to 19,060.35.

At the opening bell, the Dow Jones Industrial Average rose 9.7 points, or 0.02%, to 42150.09. The S&P 500 rose 10.2 points, or 0.17%, to 5896.74​, while the Nasdaq Composite rose 64.6 points, or 0.34%, to 19074.722.

In the bond market, the yield on the 10-year Treasury rose to 4.49% from 4.47% late on Tuesday.

Gainers and Losers

Among megacap stocks, Nvidia jumped 2.1%,Apple rose 0.02%,Tesla gained2.05%,Microsoftadded 0.81%, and Amazon lost 0.29%.

Advanced Micro Devices stock surged 5.4% after the chip designer approved a $6 billion share buy-back program.

Shares of American Eagle Outfitters fell 5.9% as the company withdrew its 2025 forecasts.

Super Micro Computer shares climbed 12.7% after the company inked a partnership deal with Saudi Arabian data center company DataVolt.

Bullion

Gold prices fell on Wednesday on soothing fears of a potential global recession after the US-China trade deal.

Spot gold fell 0.5% to $3,231.08 an ounce, as of 1144 GMT. US gold futures eased 0.4% to $3,234.70.

Spot silver was flat at $32.9 an ounce, platinum rose 0.7% to $994.78 while palladium was steady at$956.65.

Crude oil

Oil prices dropped on Wednesday on hopes of potential jump in US crude inventories.

Brent crude futures fell 75 cents, or around 1.1%, to $65.88 a barrel by 1206 GMT. US West Texas Intermediate (WTI) crude slipped 75 cents, or 1.2%, to $62.92.