Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading higher on Thursday after both President Trump and Chinese President Xi Jinping touted positive U.S.-China relations following the first day of their summit.
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Forget margin or options. Here's how the pros trade QQQThe two leaders vowed to strengthen economic cooperation and agreed that the Strait of Hormuz should reopen and shouldn’t be militarized. In addition, the U.S. cleared sales of Nvidia’s (NVDA) H200 chips to several Chinese companies, including Alibaba (BABA), JD (JD), and Tencent (TCEHY).
Xi Flags Taiwan Risk as Retail Sales Rise
Still, Xi warned Trump that any disagreement over Taiwan could result in “clashes and even conflicts, putting the entire relationship in great jeopardy.”
Elsewhere, U.S. retail sales climbed for a third consecutive month, rising 0.5% month-over-month in April. The caveat here is that the data isn’t adjusted for inflation, meaning the increase may reflect higher prices instead of stronger demand. That’s certainly a possibility, with the Consumer Price Index (CPI) rising 3.8% in April to a three-year high.