Stock Futures Rise as Oil Prices Drop Ahead of Trump-Xi Summit
U.S. stock futures rose on Monday, driven by falling oil prices ahead of the anticipated summit between U.S. President Donald Trump and Chinese President Xi Jinping. The Dow Jones Industrial Average, S&P 500, and Nasdaq-100 all saw gains in premarket trading after a week marked by significant losses for major indices. Oil prices fell more than 3%, with West Texas Intermediate crude dropping to $97.09 per barrel and Brent crude nearing $101. The decline followed an attack on Saudi Arabia attributed to Iran-backed Houthi forces, prompting U.S. travel advisories in the region. Despite this, JPMorgan analysts noted that oil flows remain strong. The Trump-Xi summit is expected to cover tariffs, critical minerals, and artificial intelligence amid broader economic concerns. The meeting comes after a recent Federal Reserve rate hike aimed at addressing persistent inflation.
Tickers: $JPM
Topics: AI developments oil prices Treasury yields U.S.-China relations