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Wall Street’s key stock indices opened higher on Thursday on likely trade agreement between the United States and the United Kingdom.

US President Donald Trump said he was set to announce a trade deal with the UK.

At the opening bell, the Dow Jones Industrial Average rose 198.6 points, or 0.48%, to 41,312.57. The S&P 500 rose 32.3 points, or 0.57%, to 5,663.6​, while the Nasdaq Composite rose 182.0 points, or 1.03%, to 17,920.154.

On Wednesday, the US Federal Reserve kept interest rates steady, but said risks of higher inflation and unemployment had risen.

Gold prices declined on Thursday, ahead of Trump's likely announcement of a trade deal between the US and Britain.

Spot gold fell 0.1% to $3,362.19 an ounce as of 1318 GMT. Earlier in the session, it rose 1%. 

US gold futures slipped 0.7% to $3,368.50.

Spot silver rose 0.2% at $32.52 an ounce, platinum gained 1% to $984.15 and palladium rose 0.2% to $973.92.

Oil prices gained on Thursday on optimism over looming trade talks between the US and China.

Brent crude futures rose 89 cents, or 1.5%, at $62.01 a barrel at 1334 GMT. US West Texas Intermediate crude edged up $1.02, or 1.8%, to $59.09.

US Treasury Secretary Scott Bessent will meet with China's top economic official on May 10 in Switzerland for trade negotiations.

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