Market Waves: S&P 500 Oscillates Amid Global Trade Tensions

The S&P 500 seesawed on Wednesday following a strong start to the week, catalyzed by soft inflation readings and a pause in U.S.-China tariff disputes. This volatility emerged as investors closely monitored ongoing trade developments coinciding with President Donald Trump's tour of Gulf states.

During the trip, President Trump announced securing a $600 billion commitment from Saudi Arabia, with several U.S. technology firms unveiling artificial intelligence deals in the Middle East. Boeing's stock rose 1.7% after Qatar Airways signed a significant deal for purchasing jets from the American planemaker.

Meanwhile, American Eagle Outfitters experienced a 5.3% drop after retracting its financial forecast for the year due to economic uncertainty driven by tariffs. Investors remained cautious, anticipating comments from Federal Reserve Chair Jerome Powell on potentially easing monetary policy amidst uncertain inflation data.

(With inputs from agencies.)