(Il Sole 24 Ore Radiocor) - Milano, 13 mag - US shares opened mixed 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 Nvidia were up 2.4% in early trade after its CEO Jensen Huang joined the delegation for China. Shares in chipmakers Intel and Micron Technologies also benefitted from their top managers being part of Trump's delegation, both stocks rising.

Just after the opening bell the Dow Jones was down 85.98 points, or 0.17%, at 49,674.58 points, the S&P 500 was up 8.16 points, or 0.11%, at 7,409.12, while the Nasdaq was up.

54.28 points, or 0.21%, at 26,142.48.

(RADIOCOR) 13-05-26 15:47:19 (0542) 5 NNNN