Global markets are on alert ahead of a high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping, set for Thursday in South Korea. The two leaders are expected to discuss trade tensions, with Xi also due to meet Japan’s new Prime Minister Sanae Takaichi on Friday during the APAC summit in Seoul.
The AI-driven stock rally faces a major test today as Alphabet, Microsoft, and Meta report earnings. Nvidia Corp.rose 3% in premarket trading, putting it on track to become the world’s first $5 trillion company, buoyed by aggressive deal-making and optimism over a potential thaw in U.S.-China relations.
Copper surged to a record $11,146 per ton, as hopes for a trade breakthrough lifted the metal often dubbed “Dr. Copper” for its economic sensitivity. Gold also advanced 1.5% to above $4,000 an ounce, extending gains amid shifting monetary expectations.
In banking, UBS Group AG posted a 74% jump in quarterly earnings, supported by robust inflows, while Santanderand Deutsche Bank also beat analyst forecasts.
The Federal Reserve is widely expected to cut rates by 25 basis points later today but may refrain from providing clear guidance on the path ahead.
After a strong session in Asia, European stocks were up about 0.5% on average, while U.S. futures pointed to modest gains as traders balance earnings, trade diplomacy, and monetary policy signals
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