Dow Jones futures gain on confirmation of the Trump-Xi meeting, US CPI awaited

• Dow Jones futures advance as White House confirmed a Trump-Xi meeting on October 30 in South Korea.
• Traders remain cautious ahead of the US inflation report, as the ongoing government shutdown causes a data blackout.
• US stock markets rose on renewed buying interest in tech stocks.

Dow Jones futures rise 0.16% to trade near 47,000 during European hours, ahead of the opening of the regular United States (US) session on Friday. The S&P 500 futures rise 0.26% to trade near 6,800, while Nasdaq 100 futures surge 0.41% to move above 25,350 at the time of writing.

US index futures advance, possibly driven by the White House confirmation that US President Donald Trump will meet Chinese leader Xi Jinping on October 30 in South Korea on the sidelines of the Asia‑Pacific Economic Cooperation (APEC) Summit.

However, market sentiment remains cautious as traders await a key US inflation report that could influence the economic and interest rate outlook. The report, delayed by the ongoing government shutdown, is expected to show persistently high prices and comes just ahead of a likely US Federal Reserve (Fed) rate cut next week. The CME FedWatch Tool indicates that markets are now pricing in nearly a 98% chance of a Fed rate cut in October and a 92% possibility of another reduction in December.

On Thursday's regular session, the Dow Jones gained 0.31%, the S&P 500 rose 0.58%, and the Nasdaq 100 advanced 0.89%, supported by renewed buying in tech stocks. In pre-market trading, Intel price is trading higher by nearly 8% after the chipmaker reported stronger-than-expected third-quarter sales, while Target and Rivian are edging up 0.25% and 0.31%, respectively.

The US government shutdown has entered its 24th day, marking the second-longest federal funding lapse in history, with no end in sight. The GOP-backed stopgap bill failed to pass in the Senate for a 12th time on Wednesday evening.