US stocks closed higher with S&P 500 and Nasdaq hitting fresh record highs, led by a tech rally after Nvidia got approval to sell H200 chips to China. Investors tracked Trump-Xi talks in Beijing, solid retail sales data, and rising inflation risks tied to energy prices impacting Fed rate cut hopes.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend