US S&P 500 and Nasdaq futures rose on Wednesday, rebounding from prior session losses as investors awaited key producer price index data and President Donald Trump’s arrival in Beijing for talks with Chinese leader Xi Jinping.
Dow futures edged lower by 149 points, or 0.3%, to 49,755, while S&P 500 E-minis gained 16 points, or 0.23%, and Nasdaq 100 E-minis advanced 239 points, or 0.82%, as of 5 a.m. ET. The move followed Tuesday’s retreat in the S&P 500 and Nasdaq Composite from recent highs, triggered by April consumer inflation data showing the steepest rise in three years.
Producer price index figures, due at 8:30 a.m. ET, are under scrutiny for signs of mounting input cost pressures, with retail sales data later in the week expected to reveal any spillover from higher gasoline and energy prices into broader consumer spending.
Trump’s two-day visit to China on May 14-15, rescheduled from March due to the ongoing US conflict in Iran, underscores persistent trade frictions and geopolitical strains. Trump has downplayed prospects for Chinese aid on Iran, where negotiations remain stalled, amid oil prices easing after a three-day rally.
A chip sector selloff stabilized, with premarket gains in Micron Technology up 6.2%, Western Digital 3.1%, Seagate 2.8% and SanDisk 5.3%, signaling renewed tech interest.
The summit could address US-China trade disputes, Taiwan tensions and energy disruptions from Iran, potentially influencing global markets if progress emerges on tariffs or supply chains. Stronger-than-expected S&P 500 forward earnings, up 2.5% for the week per Yardeni Research, add to optimism despite inflation risks.
