US stocks stepped higher on Thursday after President Trump and his Chinese counterpart Xi Jinping began a high-stakes US-China summit, with relations on trade and AI in the balance.
The Dow Jones Industrial Average (^DJI) led gains, rising 0.8%, while the S&P 500 (^GSPC) picked up 0.3% following a record-setting day on Wall Street.
Baron Capital, an investment management company, released its Q1 2026 investor letter for the “Baron Asset Fund”. A copy of the letter is available to download here. U.S. equity markets started the year on a positive note. In February, market dynamics changed due to concerns about AI disruption,
ARK Invest CEO Cathie Wood’s flagship exchange-traded fund actively invests in shares of companies expected to be disruptive and innovative. But so far this year, the fund appears to be missing out on big gains tied to technology and artificial intelligence.
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A high-stakes summit between Donald Trump and Xi Jinping in Beijing has put the fragile state of US-China relations back at the centre of global geopolitics, with Taiwan, the Iran war, trade and technology emerging as the biggest flashpoints.
The two leaders met at Beijing’s Great Hall of the People amid escalating tensions in the Middle East and growing concerns over the global economy.
As part of his campaign, President Trump pledged to do away with taxes on Social Security benefits.
A big tax code change exempts most seniors from paying those taxes.
Taxes on Social Security did not actually go away,
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Traders work at the New York Stock Exchange on May 13, 2026.
NYSE
Dow futures, year-to-date
Shares of Cisco surged 15% in premarket trading after the software giant posted third-quarter results and guidance that beat Wall Street’s expectations and announced it would be cutting almost 4,000 jobs.
» Read more about: The Dow is poised to retake 50,000 as Cisco jumps, Boeing gains: Live updates »
US stock futures moved higher on Thursday as President Donald Trump and Chinese President Xi Jinping opened a closely watched US-China summit, with trade and artificial intelligence among the key issues at stake, News.Az reports, citing Yahoo Finance.
Futures tied to the Dow Jones Industrial Average (YM=F) gained 0.4%,
» Read more about: Dow, S&P 500, Nasdaq futures jump as investors eye Trump-Xi summit »
