US stock futures climbed on Thursday after President Donald Trump met with Chinese President Xi Jinping in South Korea. Trump said the US and China will maintain a strong relationship for a long time, while Xi called on both nations to stay on the right path to ensure stability. Meanwhile, investors digested mixed earnings from Big Tech, with Alphabet jumping nearly 7% in extended trading on stronger-than-expected results. In contrast, Meta slumped over 7% after reporting a $15.93 billion one-time charge linked to President Trump’s One Big Beautiful Bill Act, while Microsoft fell more than 4% after saying its OpenAI investment reduced quarterly earnings by $3.1 billion. Investors now await results from Apple and Amazon later in the day. Elsewhere, the Fed delivered a widely expected quarter-point rate cut on Wednesday, though Chair Powell signaled uncertainty about another move in December.
