FX.co ★ US Futures Edge Higher After Tech-Led Rally

US stock futures inched higher on Thursday after the S&P 500 and Nasdaq Composite closed at new record highs, driven by continued strength in technology shares, as investors awaited President Donald Trump’s meeting with Chinese President Xi Jinping. In Wednesday’s regular session, the S&P 500 gained 0.58% and the Nasdaq advanced 1.2%, while the Dow Jones slipped 0.14%. These moves came despite fresh data showing that US producer prices in April rose at the fastest pace since 2022, reinforcing expectations that the Federal Reserve may maintain a hawkish policy stance. Technology stocks remained the primary engine of the rally, with notable gains from Micron Technology, Nvidia, Tesla, Apple and Alphabet. In after-hours trading, Cisco Systems jumped nearly 20% after reporting stronger-than-expected quarterly results and unveiling plans to cut almost 4,000 jobs. Meanwhile, Doximity sank 18% following weaker-than-expected earnings.