Donald Trump and Chinese President Xi Jinping are scheduled to conclude the U.S. president’s two-day state visit to China on Friday as investors weigh fragile trade progress, Taiwan tensions and surging oil prices.
Stock Futures Dip As Trump-Xi Summit Draws Global Attention
Late Thursday, Dow futures fell 77.00 points, or 0.15%, to 50,077.00, while S&P 500 futures slipped 7.25 points, or 0.10%, to 7,518.25 and Nasdaq 100 futures declined 16.25 points, or 0.05%, to 29,671.50 as of around 8:46 p.m. EDT.
In commodities, WTI crude oil rose 0.80% to $101.98 per barrel. Brent crude added 0.85% to $106.62 per barrel.
Natural gas futures climbed 1.04% to $2.924 per MMBtu.
Meanwhile, the U.S. dollar index stood at 99.013, up 0.15%.
Asian markets were mixed, with South Korea’s KOSPI adding 0.16% to 7,994.03 and Japan’s Nikkei 225 slipping 0.27% to 62,487.86.
Trump-Xi Talks Focus On Trade, Taiwan And Strategic Stability
Trump and Xi are expected to meet over tea and lunch before Trump departs Beijing, capping discussions centered on preserving a delicate trade truce established last October, Fox New reported.
Trump has sought stronger economic wins, including expanded Chinese purchases of U.S. goods, as he faces domestic political pressure ahead of midterm elections.
Trump-Xi Beijing Summit Focuses On Trade, Taiwan And Global Security
At a state banquet in Beijing, Trump and Xi Jinping exchanged toasts. During his remarks, Trump extended an invitation for Xi to visit the White House on Sept. 24.
According to the White House, both leaders also agreed that Iran must not obtain nuclear weapons and stressed the importance of keeping the Strait of Hormuz open.
Xi reportedly warned that mishandling Taiwan could place U.S.-China relations in a “extremely dangerous” position.
Boeing Deal Disappoints Investors
Trump told Fox News that Xi pledged to support U.S. efforts involving Iran while also committing China to expanded purchases of American soybeans, oil, liquefied natural gas and other energy products.
China agreed to purchase 200 Boeing Co (NYSE:BA) aircraft, marking its first major U.S. commercial jet order in years.
However, the figure fell short of broader market expectations for a significantly larger deal, sending Boeing shares down 4.73% during the regular session.
According to Benzinga Edge Rankings, Boeing stands in the 65th percentile for Momentum, supported by strong performance across short, medium and long-term periods.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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