COLLINS SAYS SHE IS MOST WORRIED ABOUT INFLATION OUTLOOK RIGHT NOW

U.S. APRIL BUDGET SURPLUS $215 BLN (CONSENSUS $220 BLN SURPLUS) VS APRIL 2025 SURPLUS $258 BLN - TREASURY U.S. FISCAL 2026 YEAR-TO-DATE DEFICIT $954 BLN VS COMPARABLE FISCAL 2025 DEFICIT $1.049 TRLN U.S. APRIL BUDGET OUTLAYS $622 BLN VS $592 BLN IN APRIL 2025; RECEIPTS $837 BLN VS $850 BLN IN APRIL 2025 U.S. APRIL NET CUSTOMS RECEIPTS $22.12 BLN - TREASURY

An upcoming summit between President Donald Trump and Chinese President Xi Jinping is emerging as a key test for US equities trading at record highs. Shares of several companies linked to executives attending the Beijing meeting rose in premarket trading, with Nvidia up 2.5%, Micron 5.8%, Qualcomm 4.9%, Tesla 1.3%, and Boeing 0.7%. Piper Sandler’s Danny Kirsch said investors would react negatively to any developments that hurt US-China trade relations or escalate Middle East tensions, warning renewed trade-war threats could trigger equity selling.