U.S. stock futures showed minimal movement on Thursday night, following a significant session where the Dow Jones Industrial Average successfully breached the 50,000-point mark, and the S&P 500 closed above 7,500 for the first time in its history. This positive momentum comes as investors also closely monitor the ongoing high-level summit between the United States and China.

Wall Street has experienced a consistent upward trajectory, with both the S&P 500 and Nasdaq Composite achieving record closing highs. The S&P 500 advanced by 0.8%, while the Nasdaq climbed 0.9%. The 30-stock Dow also saw a rise of 370 points, or 0.8%. This robust performance is largely attributed to a renewed enthusiasm surrounding artificial intelligence. However, an analysis of market internals reveals a growing divergence, with the broader market lagging behind the largest technology companies. This concentration of gains at the top is raising concerns among some investors, suggesting a potentially fragile rally. Keith Lerner, investment chief at Truist Advisory Services, noted that the broadening trade has “fizzled out,” indicating that while broad-based indices appear strong, the market is heavily reliant on the tech sector.

Several companies made notable moves in after-hours trading. Cerebras shares climbed 5%, extending gains after the artificial intelligence chipmaker’s public market debut. Semiconductor equipment supplier Applied Materials rose approximately 2% after reporting fiscal second-quarter results that surpassed analyst expectations. Collaborative interface design tool Figma saw its shares surge 10% following stronger-than-anticipated first-quarter earnings. Additionally, diabetes management company DexCom jumped 5.5% after reaching an agreement with Elliott Investment Management to appoint two new independent directors to its board. In other corporate news, SpaceX is reportedly preparing to release its prospectus as early as next week, following a confidential IPO filing in April.

Internationally, the second day of talks between U.S. President Donald Trump and Chinese President Xi Jinping continued, with discussions focusing on critical areas such as trade, tariffs, Iran, and Taiwan. US officials confirmed that both nations agreed on the importance of keeping the Strait of Hormuz open. Meanwhile, Asian markets generally retreated. South Korea’s benchmark Kospi fell 1.35% on Friday, pulling back from a fresh record high above 8,000. Shares of Samsung Electronics declined 1% after its labor union announced a proposal to resume wage negotiations. Japan’s Nikkei 225 also saw a decrease of 0.9%, while Hong Kong’s Hang Seng index slid 0.39%.