The S&P 500 Index ($SPX) (SPY) Wednesday closed up +0.10%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.57%. June E-mini S&P futures (ESM25) are up +0.07%, and June E-mini Nasdaq futures (NQM25) are up +0.57%.
Stock indexes on Wednesday settled mixed, with the Nasdaq 100 posting a 2-1/2 month high. The strength in chip makers Wednesday supported gains in the broader market. The Trump administration is expected to sign agreements to give Saudi Arabia and the United Arab Emirates wider access to advanced AI chips, with companies like Nvidia, Advanced Micro Devices, and Amazon.com investing in projects, including data centers and AI infrastructure. On Tuesday, the Commerce Department said it is rescinding the AI diffusion rule launched by President Biden, and the Trump administration plans to overhaul regulations on the export of semiconductors used in artificial intelligence that could shift toward negotiating individual deals with countries.
