US stock futures moved higher on Thursday as President Donald Trump and Chinese President Xi Jinping opened a closely watched US-China summit, with trade and artificial intelligence among the key issues at stake, News.Az reports, citing Yahoo Finance.

Futures tied to the Dow Jones Industrial Average (YM=F) gained 0.4%, while S&P 500 futures (ES=F) advanced 0.2%. Nasdaq 100 futures (NQ=F) climbed 0.4%, extending momentum after Wall Street stocks closed at record highs on Wednesday.

During face-to-face talks on Thursday, Trump and Xi emphasized the need for stronger US-China relations at the start of a two-day summit expected to address a range of topics including tariffs, Taiwan, and technology.

Several leading US business executives are accompanying the delegation, including Nvidia CEO Jensen Huang, Tesla CEO Elon Musk, and Apple CEO Tim Cook. Artificial intelligence is widely expected to be one of the main topics of discussion alongside trade, with investors closely monitoring developments from the meeting.

Markets are also watching whether China could play a role in easing tensions in the Middle East between its ally Iran and the United States. The ongoing conflict has pushed oil prices higher and increased concerns about inflationary pressures. Trump, however, has minimized expectations that Iran will be a major focus of discussions in Beijing.

In corporate news, shares of Cisco (CSCO) surged after the company reported quarterly earnings that exceeded expectations and announced an AI-centered restructuring plan that includes cutting about 4,000 jobs. Investors are also awaiting earnings reports on Thursday from companies including Applied Materials (AMAT) and Klarna Group (KLAR).

News.Az 

By Nijat Babayev