U.S. Stock Futures Rise as Trump Begins China Visit

U.S. equity futures rose early on May 13, 2026, reversing the previous session's modest losses. S&P futures gained 0.2 percent while Nasdaq futures climbed 0.7 percent. The moves came as semiconductor stocks rebounded in Asian and European trading sessions.

President Trump arrived in Beijing for a summit with Chinese President Xi Jinping. Nvidia CEO Jensen Huang and Elon Musk joined the trip aboard Air Force One. Traders expressed hope that the meeting would produce trade agreements, particularly around semiconductors.

Nvidia shares rose 2.5 percent in premarket trading. Chipmakers, optical component firms and memory stocks posted broad gains. The sector has driven much of the recent narrow rally tied to artificial intelligence infrastructure spending. Arteris Inc.

shares jumped 24 percent after the company reported first-quarter revenue that beat estimates and raised its full-year guidance, citing strong demand linked to artificial intelligence. 's power conversion business and its U.S. subsidiary Apex Power.

Karman Holdings fell 5.6 percent after reporting first-quarter adjusted earnings per share that matched analyst estimates. In other corporate developments, subprime lender Goeasy adopted a shareholder rights plan after results indicated rising consumer credit strain.

The dollar rose 0.2 percent.

Oil prices erased overnight losses and remained unchanged. Copper extended gains above $14,000 per ton amid supply risks from mine disruptions. Agricultural commodities also advanced. Bond yields increased as investors pointed to higher oil costs feeding into consumer prices.

The producer price index report scheduled for later in the day was expected to show further inflation pressure following the prior day's consumer price index reading.

One aim of the Trump-Xi meeting is to avoid disruptions in rare earth supplies. An analysis from Bloomberg Economics stated that China is likely to keep dominating rare earth supply chains through at least 2030. Discussions are also expected to cover artificial intelligence chip technology.

Oil inventories are falling around the world at a record pace and will continue to drop for months, according to the IEA. Capacity constraints and tightening supply of critical components are limiting growth for China's artificial intelligence hardware suppliers despite sustained demand.

SoftBank reported a surge in quarterly profit due to valuation gains on its OpenAI investment. Anthropic is in talks to raise at least $30 billion in new capital at a $900 billion valuation and warned investors against unauthorized share sales on secondary markets.

Cerebras Systems indicated it expects to price its initial public offering above the top of its marketed range. >"The most difficult question for investors right now is to find hedge trades in case the war in Iran drags on and oil prices stay high. The best place to hide would be companies with stronger earnings and margins, as well as highly visible and predictable earnings.