Overnight Developments
Trump Lands in Beijing for Xi Summit — Top Tech CEOs in Delegation — Euronews / CNBC
Trump has landed in Beijing for a state visit centered on trade, Taiwan, and Iran policy. Tim Cook (AAPL), Elon Musk (TSLA), and Jensen Huang (NVDA) are part of the delegation, signaling the agenda includes export controls, chip access, and supply-chain commitments — any of which could reshape semiconductor and large-cap tech tape. NVDA is up ~2% pre-market on the headline alone. Affected sectors: Semiconductors, Tech, Consumer Electronics, Industrials
PPI for April Released This Morning — TheStreet / BLS
April Producer Price Index hits today after yesterday’s hot CPI print (3.8% YoY, 0.6% MoM) confirmed sticky inflation. A hot PPI would compound the rates-up / equities-down impulse and pressure long-duration tech; a soft print would relieve the Fed-cut-out narrative. Watch the 8:30 ET release. Affected sectors: Rates, Bonds, Growth Tech, Banks
Futures & Pre-Market
| Index | Futures | Change |
|---|---|---|
| S&P 500 | 7,443.50 | +0.12% |
| NASDAQ | 29,387.75 | +0.46% |
| DOW | 49,731.00 | -0.28% |
Watchlist Movers
- No watchlist tickers moving >3% in pre-market. NVDA is up ~2% on the Beijing summit headlines (Huang in the delegation), and AAPL is in focus with Cook traveling alongside.
Notable Non-Watchlist Movers
- WOLF +23% — Wolfspeed surge in pre-market
- MU +5% — Micron rallying with chip strength
- AMD +2% — Riding the semi tape
- NCNO +7.7% — nCino higher pre-market
International Markets
Asia closed firm — Nikkei +0.89%, Shanghai +0.64%, Hang Seng +0.15% — with Beijing tape supported by summit optimism. Europe modestly positive (DAX +0.71%, FTSE +0.20%). Tone is risk-on, but futures are split (NASDAQ up, DOW down), reflecting tech-led leadership ahead of PPI.
What to Watch at Open
PPI at 8:30 ET is the binary event — a soft print likely extends the chip-led bid; a hot print risks unwinding it fast. Watch semiconductor leadership (NVDA, AMD, MU, TSM) for any signal/headline out of the Beijing summit during the US session.
This alert is for informational purposes only and does not constitute financial advice.