Dow, S&P 500, Nasdaq futures drop as investors weigh Trump-Xi summit outcomes
US stock futures slid after an upbeat day on Wall Street as investors review the outcomes of President Trump’s meeting with Chinese President Xi Jinping.
Futures attached to the Dow Jones Industrial Average (YM=F) inched own 0.2%, as futures on the benchmark S&P 500 (ES=F) fell 0.3%. Contracts on the Nasdaq 100 (NQ=F) traded down 0.5%, News.Az reports, citing Yahoo Finance.
After markets closed, shares of Applied Materials (AMAT) and Figma (FIG) jumped as investors cheered earnings results that signaled strong demand amid the AI boom.
In day trading, the Dow (^DJI) jumped back to the 50,000 level, and the S&P 500 (^GSPC) and Nasdaq (^IXIC) hit new highs, powered by confidence in the AI trade. President Trump’s summit with Chinese President Xi Jinping and the blockbuster market debut of chipmaker Cerebras (CBRS) also lifted market sentiment.
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Early Friday morning Trump concluded his visit with Xi in Beijing before flying back to Washington. His visit struck a business-friendly tone, with 16 top US executives accompanying him, and new deals for the likes of Boeing (BA) and Nvidia (NVDA). The diplomatic issues of Taiwan and Iran, however, continue to lurk in the background.
Earnings season continues to wrap up this week, with Mizuho Financial Group (MFG), RBC Bearings (RBC), and Sigma Lithium Corporation (SGML) posting results Friday.
By Nijat Babayev
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