U.S. stock futures moved higher Monday as falling oil prices and easing Treasury yields supported a broad risk-on tone. S&P 500 futures gained about 0.6%, Nasdaq 100 futures rose roughly 1.1%, and Dow futures climbed more than 400 points, or 0.8%. The advance followed a weak stretch for the Dow, which dropped about 1.7% last week for its third consecutive weekly decline.
Trump-Xi summit in focus. Investors were looking ahead to Thursday’s meeting between President Donald Trump and Chinese President Xi Jinping, with China confirming Xi's visit to the United States from September 23 through September 25. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held preparatory talks in New York over the weekend, discussing trade, rare earths, artificial intelligence, and a proposed AI safety notification mechanism. Markets see the meeting as a potential catalyst for technology and semiconductor shares, especially because Washington and Beijing remain divided over advanced chips and AI controls.
Oil and rates provide relief. Brent crude fell more than 2% to around $102 a barrel, while WTI moved below $99, as Saudi supply recovered and hopes for diplomacy with Iran increased. The decline in oil eased inflation concerns and helped pull the 10-year Treasury yield to around 4.96% from above 5% last week. The Federal Reserve last week raised its benchmark rate by 25 basis points to a range of 3.75% to 4.00%, its first increase since July 2023, and several Fed speakers this week could reshape October or December rate bets.
AI stocks led the rebound. Intel jumped more than 5%, Marvell gained about 2.5%, Meta rose more than 2%, and Dell advanced nearly 3%. Accenture climbed around 6% after announcing a five-year AI safety partnership with Anthropic worth a combined $2 billion.
Bitcoin and crypto equities joined the advance. Bitcoin traded above $85,000 after closing above its 50-week moving average for the first time in about 10 months. Coinbase rose around 5% before the opening bell, while Strategy advanced more than 7%. The crypto move was not the main driver of the equity rally, but it reinforced the broader improvement in risk appetite as oil and bond yields retreated.
