Tech Stocks Soar Amid U.S.-China Summit and Market Surge

Futures tied to the S&P 500 and Nasdaq soared to new heights on Thursday as Nvidia's stock spiked, driven by the U.S.-China summit and expected economic releases. Nvidia saw a 1.9% premarket rise, leading the tech firm to a valuation over $5.5 trillion after the U.S. permitted some Chinese companies to acquire its H200 AI chips.

The tech sector, particularly chipmakers, has buoyed U.S. markets despite ongoing Middle Eastern conflict and inflation concerns. Chinese President Xi Jinping highlighted progress in trade talks during a summit with U.S. President Donald Trump, though he warned of Taiwan-related risks that could escalate bilateral tensions.

Amidst higher global energy prices associated with the Iran conflict, Trump seeks Chinese assistance in its resolution. As of early Thursday morning, U.S. stock futures climbed with Dow, S&P 500, and Nasdaq all showing gains. Federal Reserve's stance on monetary policy remains cautious amidst stronger-than-expected economic indicators, with investors awaiting U.S. retail sales and jobless claims data for further insights.

(With inputs from agencies.)