{"id":61912,"date":"2026-05-13T20:38:18","date_gmt":"2026-05-14T00:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/markets-brace-for-trump-xi-summit-as-nikkei-hits-record-high-amid-global-turmoil\/61912\/"},"modified":"2026-05-13T20:38:18","modified_gmt":"2026-05-14T00:38:18","slug":"markets-brace-for-trump-xi-summit-as-nikkei-hits-record-high-amid-global-turmoil","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/markets-brace-for-trump-xi-summit-as-nikkei-hits-record-high-amid-global-turmoil\/61912\/","title":{"rendered":"Markets Brace for Trump-Xi Summit as Nikkei Hits Record High Amid Global Turmoil"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Donald Trump and Xi Jinping are set to meet in Beijing<\/strong> to negotiate a trade truce and address the <strong>Iran war<\/strong>, which has already driven <strong>oil and gasoline prices<\/strong> sharply higher.<\/li>\n<li><strong>Japan\u2019s Nikkei Share Average surged to an all-time high<\/strong>, while the <strong>10-year JGB yield hit 2.605%<\/strong>, its highest level since May 1997, amid shifting global capital flows.<\/li>\n<li><strong>GameStop (<a href=\"\/stock\/GME\">GME<\/a>) CEO Ryan Cohen<\/strong> has reportedly threatened to take a <strong>$56 billion offer for eBay (<a href=\"\/stock\/EBAY\">EBAY<\/a>)<\/strong> directly to shareholders, marking a massive escalation in retail-driven corporate activism.<\/li>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> remains under pressure near $4,700\/oz<\/strong> as &quot;hotter&quot; US inflation data fuels expectations that the Federal Reserve will maintain <strong>higher interest rates for longer<\/strong>.<\/li>\n<li><strong>OpenAI has proposed a global AI governance body<\/strong> led by the US and China, modeled after the International Atomic Energy Agency, to set international safety standards.<\/li>\n<\/ul>\n<p>The global financial landscape is fixated on Beijing as <strong>Donald Trump and Xi Jinping<\/strong> prepare for high-stakes talks scheduled to begin in roughly three hours. The summit aims to secure a <strong>trade truce<\/strong> and navigate the economic fallout of the <strong>Iran war<\/strong>, which has significantly increased <strong>US inflation<\/strong> and federal debt. Analysts warn the conflict could ultimately cost the US over <strong>$300 billion<\/strong> in military spending and rising borrowing costs.<\/p>\n<p>In Japan, markets are experiencing historic volatility and growth. The <strong>Nikkei Share Average<\/strong> climbed to a record peak, supported by foreign investors who purchased <strong>\u00a51,437.5 billion<\/strong> in Japanese stocks during the week ending May 8. Simultaneously, the <strong>10-year JGB yield<\/strong> advanced to <strong>2.605%<\/strong>, a 29-year high, reflecting a significant shift in the Japanese fixed-income market.<\/p>\n<p>Corporate headlines are dominated by <strong>GameStop (<a href=\"\/stock\/GME\">GME<\/a>)<\/strong> chairman Ryan Cohen, who is reportedly pushing a <strong>$56 billion bid<\/strong> for <strong>eBay (<a href=\"\/stock\/EBAY\">EBAY<\/a>)<\/strong>. Cohen has threatened to bypass the board and take the offer directly to shareholders, a move that could reshape the e-commerce landscape. Meanwhile, in the tech sector, <strong>Chinese memory module makers<\/strong> are ramping up production using new <strong>CXMT DRAM<\/strong>, as competition over AI hardware intensifies.<\/p>\n<p>The AI sector is also seeing a push for regulation, with <strong>OpenAI<\/strong> proposing a US-led <strong>global AI governance body<\/strong> that includes China. This comes as US concerns grow over Chinese firms allegedly using <strong>American AI model outputs<\/strong> to develop rival systems. Lawmakers have also reportedly sent letters to the White House referencing &quot;Anthropic Mythos,&quot; signaling deepening legislative scrutiny of AI&#39;s cultural and security impacts.<\/p>\n<p>Commodity markets are reacting to persistent inflationary pressures. <strong>Gold<\/strong> is struggling to maintain momentum near <strong>$4,700\/oz<\/strong>, weighed down by rising <strong>US bond yields<\/strong>. However, <strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">silver<\/a><\/strong> has continued to outperform gold in May, bolstered by <strong>copper supply concerns<\/strong> and speculative buying. In energy, <strong>Cuba<\/strong> is reporting a severe shortage of diesel and fuel oil, which the government attributes to a <strong>U.S. oil blockade<\/strong>.<\/p>\n<p>Geopolitical instability remains a major headwind for global markets. <strong>Kyiv<\/strong> is currently under a major Russian attack, with Mayor Vitali Klitschko reporting blasts across the city. Additionally, <strong>Venezuela<\/strong> has launched a massive effort to restructure its <strong>$170 billion debt load<\/strong>, adding further complexity to the emerging market credit environment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Donald Trump and Xi Jinping are set to meet in Beijing to negotiate a trade truce and address 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