Dow Futures Pop on U.S.-China Summit, Cisco Earnings

Stock futures are trading notably higher this morning, the Dow Jones Industrial Average (DJI) enjoying a much-needed rally after impressive earnings out of Cisco Systems (CSCO). Also driving sentiment, several U.S. companies hope to benefit from President Donald Trump's meetings with China's President Xi Jinping, including Boeing (BA) and the AI sector. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also higher, with the latter extending yesterday's chip-induced surge.

• Blue-chip stock seeing a pre-earnings pullback.
• Who has managed the biggest moves this earnings season?
• Plus, more on Cisco; HUB pops on revenue win; Biogen reveals Alzheimer's drug trial update.

5 Things You Need to Know Today

1. The Cboe Options Exchange saw more than 3.3 million call contracts and 1.7 million put contracts traded on Wednesday. The single-session equity put/call ratio rose to 0.50, while the 21-day moving average stayed at 0.59.
2. Cisco Systems Inc (NASDAQ:CSCO) stock is 15.2% higher ahead of the open, after the tech behemoth reported upbeat fiscal third-quarter earnings and a better-than-expected current-quarter outlook. CSCO is slated to open at a new record high and add to its healthy 32% year-to-date gain.
3. StubHub Holdings, Inc (NYSE:STUB) stock is up 15.2% before the bell, after the ticketing reseller reported a quarterly revenue beat and received a price-target hike from Morgan Stanley to $8.75 in response. STUB has struggled overall in 2026, shedding 44.4%.
4. Pharmaceutical name Biogen Inc (NASDAQ:BIIB) is moving 2.7% higher in electronic trading, after the company said its new Alzheimer's drug has advanced to a phase 3 trial, despite not meeting the phase 2 goal. BIIB has stepped up as an outperformer recently, up 66% over the past 12 months.
5. What other economic data is due out this week?

Asian Markets Mixed Amid Trump, Jinping Meeting

Asian markets were mixed Thursday as investors awaited a high-stakes meeting between President Trump and China’s Xi Jinping for signals on trade and U.S.-China relations. Japan’s Nikkei fell 1%, while South Korea’s Kospi jumped 1.8%, helped by a rally in Samsung shares after labor strike fears eased. China’s Shanghai Composite dropped 1.5%, while Hong Kong’s Hang Seng finished flat.

European stocks are higher Thursday as investors closely monitor U.K. political uncertainty and President Trump’s trip to China. London’s FTSE 100 is up 0.4%, while Germany’s DAX is pushing 1.4% higher, and France’s CAC 40 sports a 0.9% gain. Attention remains on Prime Minister Keir Starmer’s shaky leadership, though easing gilt yields helped calm markets. Plus, the British pound slipped 0.3% against the U.S. dollar.