U.S. equity futures slipped Tuesday as traders digested a low‑key summit between President Donald Trump and Chinese leader Xi Jinping. Little substantive progress emerged, leaving markets wary. Oil prices rose on news that the two presidents affirmed the Strait of Hormuz must stay open, while Chinese officials hinted at boosting purchases of American crude and curbing Iranian oil imports.

The limited outcomes kept bond yields on the rise, with Treasury yields edging higher amid lingering Middle‑East tensions. Investors interpreted the summit’s vague commitments as insufficient to ease geopolitical risk, prompting a modest shift toward safe‑haven assets. Meanwhile, the pledge to keep Hormuz free offered a thin reassurance for global shipping routes.

For traders, the immediate takeaway is a mixed‑signal environment: equities under pressure, commodities buoyed, and fixed income edging up. With no clear policy shift from either Washington or Beijing, volatility may linger. Market participants will watch for any concrete trade deals or further diplomatic moves that could reshape risk premiums.

Analysts note that the U.S.‑China oil discussion, while modest, could signal a gradual easing of trade frictions in the energy sector. If Beijing follows through, American refiners may see a modest lift in demand, while Iranian exporters could face tighter constraints. The net effect will depend on how quickly the promised adjustments materialize.