U.S. Stock Futures Slip as Trump-Xi Talks Weigh on Market Sentiment

U.S. stock futures slipped in overnight trading as meetings between U.S. President Donald Trump and China's Xi Jinping continued in Beijing, weighing on market sentiment. The Dow Jones Industrial Average futures dropped 0.29%, S&P 500 futures fell 0.33%, and Nasdaq 100 futures declined 0.50% as of 10:28 p.m ET.

The rally that pushed the Dow above the 50,000 mark for the first time since early February was fueled by artificial intelligence momentum, particularly in semiconductor companies such as Nvidia, Micron Technology, and Ondas Inc., which have been leading broader market gains. Trump told Fox News that China had agreed to buy American oil, with ships set to start shipping from Texas, Louisiana, and Alaska.

The president also said China would withhold military equipment from Iran and wants the Strait of Hormuz open again. Markets are watching for industrial production and capacity utilization data on Friday, which will provide updates on domestic manufacturing health.