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Stock market today: Dow, S&P 500, Nasdaq futures rise with US-China trade talks, Fed rate call in focus

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US stock futures coasted higher on Wednesday as investors assessed prospects for planned US-China trade talks and waited for the Federal Reserve’s latest interest-rate decision to land.

Futures linked to the Dow Jones Industrial Average (YM=F) and the S&P 500 (ES=F) both climbed roughly 0.6%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) rose 0.7%, on the heels of a losing day for the major US gauges.

Markets cautiously welcomed news on Tuesday that top US and Chinese officials will meet this weekend for the first major trade talks between the two since President Trump hiked tariffs on Chinese imports to 145% in April.

Faith in the idea that the US and China would eventually get round the table to seal an agreement has helped keep stocks aloft in recent weeks. But signs are that the Geneva meeting won’t bring a big trade deal.

“We’ve got to de-escalate before we move forward,” Treasury Secretary Scott Bessent said in an interview on Fox News.

Read more: The latest on Trump’s tariffs

Striking the same note, Trump on Tuesday downplayed the idea that countries could negotiate better tariffs. Speaking at a meeting with Canadian Prime Minister Mark Carney, he laid out a “take it or leave it” choice for US trading partners.

Meanwhile, investors are getting ready for the Fed’s policy decision due at 2 p.m. ET. Traders are pricing in about 96% odds that the central bank will leave rates unchanged, according the CME’s FedWatch tool. The focus will be on what Chair Jerome Powell has to say about the economy and the future path of rates as the impact of Trump’s historic tariff hikes feeds through.

LIVE 3 updates

  • Today at 4:57 AM UTC

    Asian markets rise as US-China meeting builds hope, China cuts interest rates

    Major stock indexes across Asia saw gains following the announcement that top officials from the US and China will meet in Switzerland this weekend to open tariff negotiations.

    Japan’s benchmark Nikkei 225 (^N225) rose 0.1% while South Korea’s Kospi gained 0.4%. The Australian S&P/ASX 200 (^AXJO) advanced 0.5%

    In addition to the opening up of trade talks, China has announced a series of financial measures designed to reduce the impact of US tariffs upon the export-dependent economy.

    Beijing’s central bank has released plans to lower key interest rates and reduce requirements for lending from the reserve bank. An additional ‘tactical’ stimulus measure has boosted markets across the region.

    The CSI 300 climbed 0.5% as Hong Kong’s Hang Sang Index (^HSI) jumped 0.5%.

  • Today at 4:19 AM UTC

    Oil prices rise for a second day bolstered by US-China trade optimism

    Oil has continued a two-day streak of gains after US and Chinese officials agreed to a meeting later this week. The potential end of the trade stalemate between the two economic giants pushing the commodity upwards.

    Read more here.

  • Today at 3:28 AM UTC

    WeightWatchers files for bankruptcy

    WeightWatchers has announced that the US branch of the company is filing for Chapter 11 bankruptcy. Currently, parent company WeightWatchers International Inc. (WW) is sitting in $1.15 billion in debt.

    Associated Press Finance reports

    Read more here.