Dow, S&P 500, Nasdaq Futures Climb Ahead Of Key China Summit: CRML, APLD, GME, AMD Stocks In Focus

• U.S. Treasury Secretary Scott Bessent is also expected to meet Chinese Vice Premier He Lifeng ahead of the visit.
• The summit is also expected to draw top technology CEOs, who are reportedly set to attend the White House state dinner for Chinese President Xi Jinping on Sept. 24.
• Meanwhile, conflict in the Middle East escalated over the weekend after Iran-backed Houthis said they had attacked Saudi Arabia with missiles and drones on Saturday. 

U.S. stock futures traded higher in the overnight session late Sunday ahead of a key summit this week between President Donald Trump and Chinese President Xi Jinping, expected to take place in Washington.

Dow futures climbed 0.27%, while the S&P 500 gained 0.34%, and the Nasdaq-100 edged 0.54% higher at 10:03 PM EDT.  

On Friday, the Dow Jones Industrial Average declined 0.18% at close. Meanwhile, the S&P 500 index and the Nasdaq-100 climbed 0.17% and 0.67% at close. 

Meanwhile, the benchmark indexes were mixed last week. The Dow closed down 1.69%, extending to three consecutive weeks of declines. The S&P 500 also fell 0.08% in the same time, while the Nasdaq Composite edged up 0.72%. 

Key US Market Drivers

Last week, U.S. markets were primarily focused on the Federal Reserve’s 25 basis point benchmark rate hike to a range of 3.75% to 4.00%, its first hike in over three and a half years. 

Meanwhile, long-dated Treasury Yields climbed higher over the weekend after briefly cooling following the Fed’s rate hike decision. The U.S. 10-year Treasury yield was trading at 5% at the time of writing, while the U.S. 30-year Treasury yield was trading at 5.328%.

This week, the market is turning its attention to an important summit between the U.S. and China, where the leaders of both countries are expected to discuss tariffs, critical minerals, artificial intelligence and other economic issues. The U.S.-China trade truce is set to expire in early November.

U.S. Treasury Secretary Scott Bessent is also expected to meet Chinese Vice Premier He Lifeng ahead of the visit.

“Don’t expect too many fireworks, though, because the focus is likely to be an extension of the existing trade truce rather than anything groundbreaking,” Josh Gilbert, lead Asia Pacific analyst for eToro, wrote in a note, according to a Bloomberg report. 

The summit is also expected to draw top technology executives, with Microsoft CEO Satya Nadella, Apple Executive Chairman Tim Cook, Nvidia CEO Jensen Huang, OpenAI CEO Sam Altman and Qualcomm CEO Cristiano Amon reportedly set to attend the White House state dinner for Chinese President Xi Jinping on Sept. 24.

Meanwhile, on the geopolitical front, conflict in the Middle East escalated over the weekend after Iran-backed Houthis said they had attacked Saudi Arabia with missiles and drones on Saturday. 

Additionally, Houthi advances along the coast have positioned the group near the Bab el-Mandeb Strait, strengthening its ability to influence shipping between the Red Sea and Asia and potentially disrupt or blockade the vital waterway.

Meanwhile, the U.S. Central Command said in a post on X that oil and gas shipments through the Strait of Hormuz hit a six-month high over the weekend, with thousands of vessels safely passing through the critical waterway. 

At the time of writing, oil prices declined, with Brent crude futures expiring in November down more than 2% to $101.67 a barrel, while WTI crude futures expiring in October were trading at $98.09 per barrel.

Trending Stocks To Watch 

Critical Metals Corp. (CRML): Shares jumped more than 34% in the overnight session late Sunday after U.S. President Donald Trump unveiled an agreement that would grant the U.S. permanent security access to Greenland and greater authority over sensitive foreign investments.

Applied Digital Corp. (APLD): Shares of the company gained attention overnight after climbing more than 1% after Wells Fargo initiated coverage with an ‘Overweight’ rating and a $50 price target last week, citing its investment-grade backlog, power-advantaged footprint, and discount to contracted net asset value. 

GameStop Corp. (GME): Shares of the video game retailer were on the retail radar amid multiple bullish catalysts, including strong quarterly results, an insider buy from CEO Ryan Cohen, and an endorsement from ‘Mad Money’ host Jim Cramer. GME stock was up 0.49% in the overnight session.

Advanced Micro Devices Inc. (AMD): The chipmaker’s shares climbed 1.49% overnight after reports last week said that the company has notified its customers of a 10% hike in chip prices beginning in the fourth quarter.

Other Market Trends 

Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY), SPDR Dow Jones Industrial Average ETF Trust (DIA) and the Invesco QQQ Trust (QQQ) climbed higher in the overnight session.

The iShares 20+ Year Treasury Bond ETF (TLT) was up 0.42% amid ‘bearish’ sentiment. 

Asian markets opened higher on Friday. South Korea's KOSPI, Japan’s Nikkei 225, China’s SSE Composite and Australian stocks were all trading in the green at the time of writing. 

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