S&P 500, Nasdaq futures rise to new highs as Nvidia jumps

🌐 Cisco to cut about 4,000 jobs in AI-focused restructuring as orders surge

Cisco said on Wednesday it would cut nearly 4,000 jobs as part of a restructuring aimed at shifting investment toward artificial intelligence and related growth areas, while also raising its annual revenue forecast after a surge in hyperscaler orders.

Shares of the San Jose-based networking equipment maker rose more than 17% in premarket trading on Thursday.

"The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward the areas where demand and long-term value creation are strongest," CEO Chuck Robbins said in a post on Cisco's website. Yahoo Finance reports.


🧠 Exclusive: US clears H200 chip sales to 10 China firms as Nvidia CEO looks for breakthrough

The U.S. has cleared around 10 Chinese firms to buy Nvidia's second-most powerful AI chip, the H200, but no deliveries have been made so far, according to sources familiar with the matter.

The development leaves a major technology deal in limbo as Nvidia CEO Jensen Huang seeks progress in China this week.

Huang, who was not initially listed in the White House delegation to Beijing, reportedly joined the trip after an invitation from President Donald Trump.

Trump picked him up in Alaska en route to a summit with Chinese President Xi Jinping, raising hopes the visit could help unlock stalled efforts to sell H200 chips in China. Yahoo Finance reports.


📰 War, inflation and Trump’s tariffs have shaken the US. Why does the stock market keep going up?

Wall Street faced a sharp selloff on March 27 as oil prices surged and the Iran war intensified, pushing the Dow and Nasdaq into correction territory after weeks of declines.

Seven weeks later, despite continued geopolitical tensions, elevated oil prices, and uncertainty around peace talks with Iran, U.S. stocks have rebounded strongly.

The resilience in equities has surprised many investors, especially as inflation concerns and trade tensions remain in focus.

President Trump said on Wednesday that he is “not even a little bit” motivated by Americans’ financial situation to end the war, adding another layer of uncertainty to markets. The Guardian reports.


🌍 World shares mostly gain as investors watch Trump-Xi summit

World shares were mostly higher Thursday after Wall Street set more records, as investors closely monitored developments from U.S. President Donald Trump’s summit with Chinese leader Xi Jinping in Beijing.

Trump met with Xi at the Great Hall of the People to discuss U.S.-China relations and Taiwan, though analysts did not expect major breakthroughs from the talks.

U.S. futures edged higher.

In early European trading, Britain’s FTSE 100 rose 0.3% to 10,351.36 after the U.K. reported stronger-than-expected economic growth of 0.3% for March despite the impact of the Iran war.

France’s CAC 40 gained 0.6% to 8,057.64, while Germany’s DAX climbed 1.4% to 24,462.22. BNN Bloomberg reports.


🤝 Xi tells US CEOs accompanying Trump that China will open up more

Xi Jinping signaled that China is moving toward greater openness during a meeting with U.S. business leaders accompanying President Donald Trump in Beijing.

“American enterprises are deeply involved in China’s reform and opening up, a process from which both sides have benefited,” Xi said at the Great Hall of the People, according to China Central Television. “China’s door to the outside world will only open wider.”

Executives attending the meeting included Tesla’s Elon Musk, Apple’s Tim Cook, Boeing’s Kelly Ortberg, and Nvidia’s Jensen Huang, who reportedly joined the trip as a late addition. Yahoo Finance reports.

Time (ET)/ Report/ Period

8:30 AM - U.S. retail sales - April
8:30 AM - Retail sales minus autos - April
8:30 AM - Initial jobless claims - May 9

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