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Live Nasdaq Composite: Markets Rise as Optimism Returns on Stronger China Relations
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Stocks surged as Xi Jinping signaled China’s business door would open wider to American companies. Key movers include Nvidia (NVDA) up 3%, Cisco (CSCO) up 16% on AI orders and cost cuts, and Nebius (NBIS) hitting $207 on 350% new sales pipeline growth in Q1.
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Xi Jinping’s remarks about expanded Chinese market access sparked optimism that trade barriers may ease, boosting investor appetite for technology stocks and AI-related companies.
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Retail Sales Bump
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April retail sales met expectations across the board, rising 0.5%, rounding out three straight months of gains. But dig beneath the surface and the story gets a bit more complicated. Much of the lift came from consumers spending more at the pump rather than opening their wallets more broadly, with gas station sales surging 2.8% as the Iran conflict continued to push fuel prices higher.
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Stocks came out of the gate strong on Thursday as a wave of optimism swept through Wall Street, fueled by a significant diplomatic signal out of Beijing. Chinese President Xi Jinping reportedly told the group of American CEOs traveling alongside President Trump that China’s door to business would “open wider.” That was music to the market’s ears, with stocks like Nvidia (Nasdaq; NVDA) adding 3%.
AI-linked names remain the market’s center of gravity, but legacy networker Cisco (Nasdaq: CSCO) is stealing some of the spotlight. Shares are surging over 15% after the tech giant announced job cuts aimed at redirecting resources toward artificial intelligence. The move is giving the Dow a meaningful boost, pulling it within striking distance of the 50,000 mark for the first time.
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Market Movers
Nebius (Nasdaq: NBIS): Shares climbed to uncharted territory Thursday, touching $207 for the first time in the company’s history. The catalyst is hard to ignore — new sales pipeline generation exploded nearly 350% in a single quarter during Q1. Slowing demand? The data tells a very different story.
Evercore ISI raised its price target on Apple (Nasdaq: AAPL) to $365 from $330, holding its Outperform rating while putting a $500 bull case in play. The firm argues the market is too fixated on near-term iPhone and AI concerns, missing the bigger picture on Apple’s long-term competitive strengths.
Chip company Cerebras stock is expected to begin trading sometime around midday today as the AI chipmaker’s highly anticipated IPO makes its market debut. Wall Street is watching closely to see what it signals about the staying power of the AI trade. The company priced its IPO at $185 per share Wednesday evening, blowing past the top of its $150–$160 range, a range that had already been raised once from the original $115–$125
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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