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Indexes up: Dow 0.07%, S&P 500 0.03%, Nasdaq 0.26%

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Three Fed speakers scheduled to speak on Wednesday

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American Eagle Outfitters ( AEO ) drops after withdrawing FY

forecast

(Updates after markets open)

By Shashwat Chauhan and Pranav Kashyap

May 14 (Reuters) -

The S&P 500 was flat in choppy trading on Wednesday after

the week's strong start on the back of encouraging inflation

data and the U.S.-China tariff truce, as investors turned their

attention to global trade developments.

Eight of the 11 major S&P sectors were trading lower,

although a 0.5% advance in information technology

helped stave off larger losses.

Most megacap and growth stocks ticked up, with Nvidia ( NVDA )

leading the charge with a 2.1% jump. Advanced Micro

Devices ( AMD ) gained 5.4% after the chip designer

approved

a new $6 billion share buy-back program.

As President Donald Trump secured $600 billion in

commitments from Saudi Arabia during his tour of the Gulf

states, a number of U.S. technology firms announced

artificial-intelligence-related deals in the Middle East on

Tuesday.

At 10:00 a.m. 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.

U.S. stocks have been buoyed since the weekend, when the

United States and China hit pause on their fierce tariff

dispute, signaling a joint effort to stave off a global economic

downturn.

The U.S. will temporarily lower the extra tariffs it imposed

on Chinese imports to 30% from 145% for three months, while

Chinese duties on U.S. imports will fall to 10% from 125% in the

same period.

"While there are undoubtedly still uncertainties and

details to iron out with the trade negotiation with China, the

easing of tensions is apparently enough for the markets," said

Rick Gardner, chief investment officer at RGA Investments, in

e-mailed comments.

"(Markets) are typically forward-looking and are pricing

in an environment where the U.S. and China are able to trade

with each other," he said.

Including the day's gains so far, the S&P 500 has swung back

into positive territory for the year, a milestone not seen since

late February. However, the benchmark index is more than 4% off

the record peaks it hit earlier this year.

A 90-day tariff pause announced on April 9 for countries

other than China, along with solid earnings reports and a

limited U.S.-UK trade agreement last week, helped the benchmark

indexes claw back.

Tuesday's data showed U.S. consumer prices rebounded

moderately in April, with headline inflation rising 0.2%,

compared with economists' estimate of a 0.3% increase and versus

a 0.1% drop in March.

U.S. Federal Reserve Vice Chair Philip Jefferson

said

recent inflation data indicated progress toward the central

bank's 2% target, yet the outlook remained uncertain as

potential new import taxes could elevate prices.

As earnings season draws to a close, results from retail

giant Walmart ( WMT ) will be on the radar later in the week.

American Eagle Outfitters ( AEO ) dropped 5.9% after the

apparel company withdrew its annual forecasts, citing economic

tariff-fueled uncertainty.

Declining issues outnumbered advancers by a 1.68-to-1 ratio

on the NYSE, and by a 1.5-to-1 ratio on the Nasdaq.

The S&P 500 posted two new 52-week highs and six new

lows, while the Nasdaq Composite recorded 40 new highs and 48

new lows.