U.S. equity futures moved higher Thursday as President Trump met with Chinese President Xi Jinping, heightening attention on key trade and technology issues that could affect global markets.
At 4:20 p.m. (Bangkok Time), S&P 500 futures edged up 0.21%, while Nasdaq 100 futures advanced 0.27%. Dow Jones Industrial Average futures gained 0.43%. The uptick came as investors monitored the opening of the two-day summit in Beijing, with discussions anticipated to span tariffs, technological cooperation, and sensitive geopolitical topics such as Taiwan.
The high-level talks attracted high-profile US business leaders, including Nvidia CEO Jensen Huang, Tesla’s Elon Musk, and Apple’s Tim Cook. Their presence signaled a likely emphasis on artificial intelligence, a sector with broad market implications. Trade matters also remain central, with Wall Street participants weighing any potential shifts that could impact cross-border commerce.
Geopolitical issues featured alongside economic concerns. Market participants are tracking whether China might mediate in the ongoing Middle East conflict, which has driven up crude prices and raised inflation risks. President Trump, however, indicated he is unlikely to make Iran a significant topic at the summit.
Investors faced further signals of persistent inflation after April’s producer price index revealed a 1.4% monthly gain, the largest since March 2022 and above economist forecasts. This development added to ongoing concerns about price pressures and the trajectory of Federal Reserve policy.
In after-hours trading, Cisco Systems shares soared 19% following quarterly outcomes and forward guidance that surpassed analysts’ expectations. The company also outlined plans to reduce its workforce by nearly 4,000 positions. In contrast, Doximity’s stock fell 18% after the health-tech firm delivered disappointing revenue guidance for both the current quarter and the fiscal year, coupled with a fourth-quarter earnings miss.
The earnings calendar includes updates from Honda Motor, Yeti, Viking Holdings, Klarna, Bullish, and Versant Media ahead of Thursday’s opening bell. In addition, the market awaits April figures on retail sales, import and export prices, and initial jobless claims for the week of May 9. New York Fed President John Williams is also set to lead a discussion later in the day.
