US S&P 500 rose 0.8% to 7,457.5 and Nasdaq up 1.5% to 26,465.35, hitting intraday record highs on tech rally.
Optimism over President Donald Trump’s China visit, with CEOs Jensen Huang and Tim Cook, lifted megacap stocks Nvidia, Apple, Google, Tesla.
April producer price index rose 1.4% MoM (6% YoY), the biggest increase since March 2022, outpacing forecasts and pressuring inflation outlook.
Brent crude fell 2% to $105.61 per barrel, while 10‑year Treasury yield rose to 4.472%, reflecting oil‑driven cost pressures and rate‑sensitivity.