US stock markets closed day at record highs

The New York Stock Exchange closed higher on Thursday when investors closely monitored US President Donald Trump’s meetings in China and macroeconomic data.

The S&P 500 rose 0.77%, or 56.99 points to close at a record high of 7,501.24.

The Dow Jones Industrial Average also advanced 0.75%, or 370.26 points to 50,063.46.

The Nasdaq Composite went up 0.88%, or 232.88 points to a record high of 26,635.22.

The Volatility Index (VIX), often referred to as the market’s “fear index,” rose 3.41% to 17.26.

While Trump’s meetings in Beijing and the release of macroeconomic data in the US remained in the spotlight for investors, the stock market followed a positive trend driven by gains in technology stocks.

Trump, who was in China for meetings with a broad delegation including representatives from American companies such as Nvidia CEO Jensen Huang and Tesla CEO Elon Musk, as well as his political advisors, met with Chinese President Xi Jinping for bilateral and delegation-level talks.

As messages emerging from the meeting between the leaders of the world’s two largest economies were closely monitored, Chinese President Xi stated that the two countries should be partners, not rivals.

Regarding Iran, the White House announced that Trump and Xi had agreed on keeping the Strait of Hormuz open and ensuring that Iran never obtains nuclear weapons.

In an interview, Trump also noted that Xi had indicated he was ready to assist with a deal regarding Iran and the opening of the Strait of Hormuz.

Additionally, Trump announced that Xi had agreed to purchase 200 aircraft from the American manufacturer Boeing; despite this, Boeing shares closed the day down 4.7%.

While Trump’s visit was underway, international media reports indicated that the US had approved approximately 10 Chinese companies to purchase Nvidia’s H200 chip, following these reports, Nvidia’s shares gained 4.4%.

On the macroeconomic data front, US retail sales rose by 0.5% month-over-month in April, in line with expectations.

During this period, the highest increase in sales volume was observed at gas stations, driven by rising oil prices due to conflicts in the Middle East.

European markets on rise

European stocks also saw positive figures, with the pan-European Stoxx Europe 600 index gaining 0.76% to close at 616.05 points.

In national markets, Germany’s DAX 40 added 1.32% to 24,456.26, Italy’s FTSE MIB 30 climbed 1.15% to 50,050.27, and the UK’s FTSE 100 gained 0.46% to finish at 10,372.93.

France’s CAC 40, meanwhile, rose 0.93% to 8,082.27, and Spain's IBEX 35 earned 0.87% to 17,809.20.