04:37 PM EDT, 05/16/2025 (MT Newswires) -- US equity indexes climbed this week as mega-caps, especially in the technology sector, jumped amid agreements unveiled during President Donald Trump's visit to the Middle East and following a temporary suspension of tariffs on China.

* The S&P 500 closed at 5,958.38 on Friday, versus 5,659.91 a week ago. The Nasdaq Composite stood at 19,211.10 at the close compared with 17,928.92, and the Dow Jones Industrial Average ended the week at 42,654.74, versus 41,249.38.

* Technology, consumer cyclicals, and communication services topped the sector charts.

* By the close on Thursday, S&P 500's gains since the April low had risen to almost 19%, Deutsche Bank said Friday morning. A 20% gain would meet the technical definition of a bull market. "So, it's been an astonishing turnaround from where we were just over a month ago at the height of the tariff uncertainty."

* The Magnificent-7 stocks -- Apple ( AAPL ) , Microsoft (MSFT), Nvidia ( NVDA ) , Alphabet (GOOG, GOOGL), Tesla (TSLA), Meta Platforms ( META ) , and Amazon.com ( AMZN ) -- rose after the US and China agreed on a 90-day suspension of reciprocal duties following talks in Switzerland.

* On Tuesday, the White House said Saudi Arabia will invest $600 billion in the US, initially focusing on energy, defense, technology, and critical minerals. Nvidia ( NVDA ), Amazon ( AMZN ), and Alphabet's Google ( GOOG ) were among the US companies that announced separate partnerships with Humain, an artificial intelligence firm backed by Saudi Arabia's Public Investment Fund.

* Nvidia ( NVDA ) will be allowed to ship its AI chips to the United Arab Emirates under a draft agreement between the US and the UAE, Reuters reported Thursday. Tesla intends to ship components to the US from China for Cybercab and Semi trucks by the end of May, Reuters reported on Wednesday. Shares of Tesla and Nvidia ( NVDA ) soared 17% and 16% this week.

* Boeing ( BA ) , GE Aerospace (GE), and ExxonMobil ( XOM ) are among the beneficiaries of over $200 billion in deals that Trump said he secured during his visit to the UAE.