(Il Sole 24 Ore Radiocor) - Milano, 14 mag - US futures were higher as the high-stakes summit between president Donald Trump and his Chinese counterpart Xi Jinping got under way.

Wall Street ended mainly higher yesterday with tech stocks pushing the S&P 500 and tech-heavy Nasdaq to new record highs, up 0.6% and 1.2%, respectively. The Dow slipped 0.1%.

The two-day summit in Beijing is expected to focus on trade, AI and the war in Iran though other contentious issues, including Taiwan, will be broached. Trump's delegation includes a series of top US CEOs from the tech sector including the heads of Nvidia, Apple and Tesla. According to Chinese TV Xi has told the US CEOs China is ready to open up more.

With the conflict in Iran still locked, Trump and Xi agreed the Strait of Hormuz should remain a free waterway. The White House also said China had indicated it might consider reducing its spend on Iranian oil.

On the stocks front, shares in Cisco Systems rose nearly 16% in premarket trade after the tech giant said it was cutting jobs to be able to invest more in AI.

Futures on the Dow Jones were up 348.00 points, or 0.70%, S&P 500 futures were up 16.75 points, or 0.22%, while futures on.

the Nasdaq were up 36.50 points, or 0.12%.

(RADIOCOR) 14-05-26 13:42:18 (0427) 5 NNNN