U.S. stock futures rose Monday as investors awaited a Thursday summit between President Donald Trump and Chinese President Xi Jinping in Washington. The S&P 500 futures advanced 0.5%, Nasdaq 100 contracts jumped 0.7%, and Dow futures gained 0.4%, rebounding after the Dow's third consecutive week of losses. Meanwhile, crude oil prices declined despite intensified Middle East geopolitical concerns, including reported Houthi missile and drone attacks on Riyadh over the weekend.
Treasury Secretary Scott Bessent held preliminary talks with Chinese Vice Premier He Lifeng in New York ahead of the summit. Discussions are expected to cover trade relations, tariff policies, artificial intelligence, critical minerals access, and a potential extension of the existing trade ceasefire. The Federal Reserve's recent 25 basis point rate hike continues to influence monetary policy expectations, with the 10-year Treasury yield holding near 5%.
Equity markets in Saudi Arabia and neighboring Gulf nations fell Sunday following the reported Houthi attacks, though regional recovery signs—including increased oil shipments from Gulf producers and potential Saudi supply facility recovery—helped stabilize energy markets Monday. Asian markets also advanced, with MSCI's Asia-Pacific benchmark excluding Japan rising approximately 0.9%, supported by technology equities in South Korea and Taiwan.
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