在美联储主席杰罗姆·鲍威尔发表鹰派言论后，交易员降低了对12月降息的预期，美元指数在上一交易日大幅上涨后于周四保持在99上方。周三，美联储公布了普遍预期的25个基点的降息，并宣布计划于12月1日结束资产负债表缩减。然而，鲍威尔强调，今年再次降息远非“定局”，理由是央行内部存在分歧，政府关门期间联邦数据有限。市场现在认为，年底前再次降息的可能性不到70%，低于周三决定前的接近全额定价。与此同时，投资者将注意力转向了备受关注的传祺会议，预计两位领导人将在紧张局势持续数月后正式达成贸易休战协议。

The dollar index held above 99 on Thursday after a sharp rise in the previous session as traders pared expectations for a December rate cut following hawkish comments from Federal Reserve Chair Jerome Powell. On Wednesday, the Fed delivered a widely expected quarter-point rate cut and announced plans to end its balance sheet drawdown on December 1. However, Powell stressed that another cut this year was far from a “foregone conclusion,” citing divisions within the central bank and limited federal data amid the government shutdown. Markets now assign less than a 70% chance of another cut before year-end, down from near full pricing before Wednesday’s decision. Meanwhile, investors turned their attention to the closely watched Trump-Xi meeting, where the two leaders are expected to formalize a trade truce after months of tensions.

美国股市期货周四下跌，因投资者消化了大型科技公司喜忧参半的业绩，同时消化了美联储最新的利率决定，并等待备受期待的Trump-Xi会议。在长期交易中，Meta股价下跌超过7%，此前该公司报告了与特朗普总统的《一大美丽法案》相关的159.3亿美元一次性费用。微软也下跌了4%以上，此前该公司表示，对OpenAI的投资使其季度收益减少了31亿美元。相比之下，Alphabet股价飙升近7%，业绩强于预期。投资者现在等待苹果和亚马逊当天晚些时候的报告。与此同时，美联储周三公布了普遍预期的25个基点的降息，尽管主席鲍威尔表示对12月的另一项举措存在不确定性。在贸易方面，经过数月的紧张局势，特朗普总统和Xi总统预计将在韩国正式达成贸易休战协议。

US stock futures fell on Thursday as investors digested mixed results from Big Tech firms, while digesting the latest Federal Reserve interest rate decision and awaiting the highly anticipated Trump-Xi meeting. In extended trading, Meta sank over 7% after reporting a $15.93 billion one-time charge tied to President Trump’s One Big Beautiful Bill Act. Microsoft also dropped more than 4% after saying its OpenAI investment trimmed quarterly earnings by $3.1 billion. In contrast, Alphabet surged nearly 7% on stronger-than-expected results. Investors now await reports from Apple and Amazon later in the day. Meanwhile, the Fed delivered a widely expected quarter-point rate cut on Wednesday, though Chair Powell signaled uncertainty over another move in December. On the trade front, Presidents Trump and Xi are expected to formalize a trade truce in South Korea after months of tension.

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President Trump and Chinese leader Xi Jinping are poised to formalize a trade and tariff truce on Thursday in South Korea after months of tensions, with the meeting scheduled for 11:00 a.m. local time. “We’re going to be, I hope, making a deal. I think we’re going to have a deal. I think it will be a good deal for both,” Trump said during his trip. He indicated the U.S. may reduce tariffs on Chinese goods in exchange for Beijing’s commitment to curb precursor chemicals used to make fentanyl, a synthetic opioid behind most U.S. overdose deaths. Trump also suggested a potential agreement with Xi on TikTok, which faces a U.S. ban unless its Chinese owners divest. Beijing signaled readiness to work toward “positive results,” according to foreign ministry spokesperson Guo Jiakun. Earlier deals that lowered retaliatory tariffs to about 55% on U.S. goods and 10% on Chinese goods, and reopened the rare earth magnet trade, are set to expire on November 10.

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President Trump and Chinese leader Xi Jinping are poised to formalize a trade and tariff truce on Thursday in South Korea after months of tensions, with the meeting scheduled for 11:00 a.m. local time. “We’re going to be, I hope, making a deal. I think we’re going to have a deal. I think it will be a good deal for both,” Trump said during his trip. He indicated the U.S. may reduce tariffs on Chinese goods in exchange for Beijing’s commitment to curb precursor chemicals used to make fentanyl, a synthetic opioid behind most U.S. overdose deaths. Trump also suggested a potential agreement with Xi on TikTok, which faces a U.S. ban unless its Chinese owners divest. Beijing signaled readiness to work toward “positive results,” according to foreign ministry spokesperson Guo Jiakun. Earlier deals that lowered retaliatory tariffs to about 55% on U.S. goods and 10% on Chinese goods, and reopened the rare earth magnet trade, are set to expire on November 10.