(Il Sole 24 Ore Radiocor) - Milano, 13 mag - US shares were trading mixed at midday after hotter-than-expected inflation data as investors waited for news out of president Donald Trump's visit to China.

The producer price index for April came in above expectations as higher energy prices triggered by the war in Iran took their toll. Annual wholesale inflation jumped 6%, the largest 12-month increase since moving up 6.4% in December 2022.

The reading comes a day after consumer price data grew at their highest rate in April for three years.

Investors are concerned renewed inflationary pressure will prompt the Federal Reserve to put back interest rate cuts or even possibly consider a rate hike.

Trump's two-day Chinese trip meanwhile, which started today, is expected to focus on trade and AI issues. The heads of Nvidia, Apple and Tesla are among a group of corporate CEOs accompanying Trump.

On the stocks front, shares in large tech companies were mostly higher as heads of Nvidia, Apple and Tesla and other corporate CEOs accompanied the president in his two-day Chinese trip which is expected to focus on trade and AI.

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(RADIOCOR) 13-05-26 17:31:30 (0633) 5 NNNN