U.S. Stock Futures Mixed; Trump Visits China with Tech CEOs; PPI Data Shows Inflation Persists
U.S. stock futures were mixed on Wednesday, with Dow Jones futures declining while S&P 500 and Nasdaq 100 futures rose. This follows a mostly lower close on Monday.
"Preventing Tehran from acquiring a nuclear weapon is my top priority." — President Donald Trump
President Donald Trump visited China alongside CEOs Jensen Huang (Nvidia), Elon Musk (Tesla), Tim Cook (Apple), Larry Fink (BlackRock), and Cristiano Amon (Qualcomm).
On Tuesday, Trump stated that Americans' financial struggles do not influence his decision-making as he negotiates an end to the Iran war, saying preventing Tehran from acquiring a nuclear weapon is his top priority.
Key Economic Data
The Producer Price Index (PPI) for final demand increased 1.4% in April, with the annual headline index rising 6.0%, the largest year-over-year increase since December 2022.
- 10-year Treasury yield: 4.46%
- 2-year Treasury yield: 3.99%
- The CME FedWatch Tool indicated a 97.6% probability that the Federal Reserve will keep interest rates unchanged at its June meeting.
Index Performance
Index Change Dow Jones -0.18% S&P 500 +0.25% Nasdaq 100 +0.76% Russell 2000 +0.29%Pre-Market ETF Moves
The SPDR S&P 500 ETF Trust (SPY) rose 0.051% to $737.80 in premarket, and the Invesco QQQ Trust ETF (QQQ) rose 0.42% to $710.18.
Stocks in Focus
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Nextpower Inc. (NXT) soared 13.78% in premarket after reporting better-than-expected Q4 results and raising FY27 sales guidance. The company announced it will acquire assets from Zigor Corporation's power conversion business and its U.S. subsidiary, Apex Power.
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MaxCyte Inc. (MXCT) shares jumped 11.88% after reporting better-than-expected Q1 results.
Note: The article did not provide full details on Taiwan Semiconductor Manufacturing.