The S&P 500 and Nasdaq Composite are hitting fresh record highs as easing oil prices, Treasury yields, along with optimism over the Trump/Xi meeting boost investor sentiment.

Investors might be focused on any trade news coming out of the U.S. meeting with China, as well as any progress addressing the war. April retail sales could reflect rising prices.

June Live Cattle Futures Are Trading Up 1.73% Wednesday Afternoon.

After a hot CPI, investors expect more of the same from PPI today. Rate hike odds and yields rose with oil early this week, while Cisco reports later and Trump visits China.

Yields for preferred securities have generally risen more than corporate bond and long-term Treasury yields over the past few months, making them more attractive to investors.

Today's 8:30 a.m. ET CPI report is the key data point of the day. A 0.6% gain is expected. Rising oil and rising yields keep causing concern after a setback in peace negotiations.

Kevin Warsh set to be confirmed as the next Fed chair, Senate committee meets to consider the CLARITY Act, President Trump heads to China, and the gerrymandering wars heat up.

Emerging market stocks have rebounded to new highs following their correction at the onset of the Iran war. The recent rally has been concentrated around AI. Can this continue?

With the earnings calendar lighter, investors focus on two key inflation reports, retail sales and war news this week. The tech rally took indexes to new record highs Friday.