TLDR
- Nasdaq futures climbed as AI chip stocks rebounded in premarket trading.
- Investors waited for April PPI inflation data after hotter-than-expected CPI figures.
- President Trump traveled to China for talks with Xi Jinping on trade and AI.
- Nvidia CEO Jensen Huang joined Elon Musk and Tim Cook on the China trip.
- Bitcoin rose slightly while oil prices eased during ongoing US-Iran tensions.
US stock futures traded mixed on Wednesday as investors prepared for fresh inflation data and followed developments tied to President Donald Trump’s trip to China.
Nasdaq futures moved higher in premarket trading after technology shares sold off earlier in the week. Futures tied to the S&P 500 also edged higher, while Dow futures slipped.
Markets focused on the April producer price index report, which was scheduled for release later in the morning. The data followed Tuesday’s hotter-than-expected consumer inflation report.
The latest inflation readings increased expectations that the Federal Reserve will leave interest rates unchanged at its next policy meeting.
Technology shares led the early rebound. Intel, AMD and Qualcomm shares moved higher as investors returned to AI-related chip stocks after Tuesday’s weakness.
Trump China Visit Draws Market Attention
Investors also watched President Trump’s visit to China, where he is expected to meet Chinese President Xi Jinping.
Trade, artificial intelligence and the Iran conflict are expected to be discussed during the summit.
This is absolutely insane.
President Trump is currently flying to China with all of the following people to request "deals" with China's President Xi:
1. Elon Musk, Tesla and SpaceX CEO
2. Jensen Huang, Nvidia CEO
3. Tim Cook, Apple CEO
4. Larry Fink, BlackRock CEO
5. Stephen…— The Kobeissi Letter (@KobeissiLetter) May 13, 2026
Nvidia CEO Jensen Huang joined the trip alongside Tesla CEO Elon Musk and Apple CEO Tim Cook. Trump confirmed the group traveled aboard Air Force One.
Analysts said markets are closely watching for signs of progress on trade discussions between the United States and China.
Wall Street has recently treated pullbacks in technology stocks as buying opportunities, especially in companies tied to AI demand.
At the same time, geopolitical risks continued to weigh on investor sentiment.
The United States and Iran remain locked in talks as uncertainty continues around the conflict in the Middle East.
Trump repeated military warnings toward Iran before arriving in China. China remains Iran’s largest oil buyer and an important diplomatic partner.
Oil Prices Fall While Bitcoin Gains
Oil prices moved lower on Wednesday despite ongoing tensions surrounding the Strait of Hormuz.
Brent crude futures fell around 1% to near $106 per barrel. West Texas Intermediate crude also declined in early trading.
Treasury yields edged lower, while the US dollar strengthened slightly against major global currencies.
Gold and silver prices climbed after India increased tariffs on precious metal imports.
Bitcoin prices rose during Wednesday trading, though gains remained limited as investors continued monitoring developments tied to the Middle East conflict.
Earnings season also remained active, with Cisco Systems, Alibaba and Birkenstock scheduled to report results later in the day.
Investors are expected to keep watching inflation data, AI-related stocks, trade headlines and geopolitical updates through the remainder of the week.
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