US stocks climbed to record highs on Wednesday despite stronger-than-expected producer inflation data, with the S&P 500 rising 0.6% and the Nasdaq gaining 1.2% as semiconductor and megacap tech shares advanced. The Dow Jones Industrial Average edged lower. The Senate also confirmed Kevin Warsh as the next Federal Reserve chair in a 54-45 vote. Markets continued to monitor inflation pressures, Fed policy expectations, and President Donald Trump’s summit with Xi Jinping in Beijing focused on trade

US stocks climbed to record highs on Wednesday despite stronger-than-expected producer inflation data, with the S&P 500 rising 0.6% and the Nasdaq gaining 1.2% as semiconductor and megacap tech shares advanced. The Dow Jones Industrial Average edged lower. The Senate also confirmed Kevin Warsh as the next Federal Reserve chair in a 54-45 vote. Markets continued to monitor inflation pressures, Fed policy expectations, and President Donald Trump’s summit with Xi Jinping in Beijing focused on trade and AI discussions.