Microsoft, Meta and Google were big earnings movers late after Fed chief Powell's hawkish comments. The Trump-Xi meeting with key agreements.

Stock futures pointed lower Thursday after President Donald Trump and Chinese leader Xi Jinping met and investors digested a warning from Federal Reserve Chair Jerome Powell and several big tech earnings reports,

The stock market rally has already defied expectations this year, shrugging off geopolitical strife, economic uncertainty and global trade tensions to reach fresh record highs. Some analysts say the rally might just be getting started.

The U.S. stock market pushed further into record heights. The S&P 500 rose 0.2% Tuesday. The Dow Jones Industrial Average added 0.3%, and the Nasdaq composite gained 0.8%.

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.3%, while Spain's IBEX 35 Index fell 0.1%. London's FTSE 100 rose 0.1%, Germany's DAX 40 fell 0.2% and France's CAC 40 fell 0.2% during the session.

NASDAQ rallied amid strong demand for tech stocks. Apple, which is up by 4.5%, is among the biggest gainers in the NASDAQ index today. The company’s shares gained strong momentum after the stock was upgraded by Loop Capital, which raised the price target from $226 to $315.

Looking for rock-solid investments in an uncertain market? These industry leaders combine proven track records with compelling growth stories.

A board above the trading floor of the New York Stock Exchange displays the closing number for the Dow Jones industrial average, Monday, Oct. 20, 2025. (AP Photo/Richard Drew) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google.