Stock futures are flat after big rally, key inflation report on deck: Live updates

Stock futures are flat after big rally, key inflation report on deck: Live updates


A trader works on the floor of the New York Stock Exchange on Aug. 4, 2022.

Source: NYSE

Stock futures were little changed in overnight trading following a big rally, as investors look ahead to a key inflation report Tuesday morning.

Futures on the Dow Jones Industrial Average inched down 24 points. S&P 500 futures and Nasdaq 100 futures were both flat.

The consumer price index, a broad measure of goods and services costs across the U.S. economy, is expected to remain at a 2.4% rate in April on a year-over-year basis, according to the Dow Jones consensus. Excluding food and energy, so-called core inflation is expected to run at a 2.8% annual rate, also unchanged from the prior month.

“We will be digging into the data to see if [March’s] slower pace continued or if reports of higher costs for some businesses, which have been reported in recent survey data, have translated to higher prices for consumers,” said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management.

Wall Street enjoyed a huge rally Monday after the U.S. and China agreed to slash steep tariffs for 90 days, raising hopes a trade war won’t tip the economy into a recession.

The blue-chip Dow surged more than 1,100 points, while the S&P 500 popped over 3%, cutting its year-to-date losses to just 0.6%. The Nasdaq Composite added 4.4%. All three averages posted their best day since April 9.

After negotiations in Switzerland over the weekend, the U.S. and China reached a deal to cut “reciprocal” tariffs between both countries down to 10%. The U.S.′ 20% duties on Chinese imports relating to fentanyl will remain in place, meaning total tariffs on China stand at 30%.

Treasury Secretary Scott Bessent told CNBC’s “Squawk Box” on Monday that he expects to meet once again with representatives from Beijing in the “next few weeks” to start ironing out a bigger agreement.



Source

NATO allies agree to higher 5% defense spending target
World

NATO allies agree to higher 5% defense spending target

Mark Rutte, secretary general of the North Atlantic Treaty Organization (NATO), left, and U.S. President Donald Trump, during the NATO summit in The Hague, Netherlands, on Wednesday, June 25, 2025. Bloomberg | Bloomberg | Getty Images NATO allies on Wednesday agreed to more than double their defense spending target from 2% of gross domestic product […]

Read More
What’s next as the British pound hits its highest in more than three years?
World

What’s next as the British pound hits its highest in more than three years?

The British pound is widely forecast to continue rising against the U.S. dollar. Matt Cardy | Getty Images The British pound is hovering at its highest level in more than three years — and analysts are divided on the potential for further upside. Britain’s currency was last seen trading around the $1.36 mark on Wednesday […]

Read More
Tesla’s European car sales nosedive for fifth month as customers switch to Chinese EVs
World

Tesla’s European car sales nosedive for fifth month as customers switch to Chinese EVs

A group of activists criticizing Elon Musk and Tesla’s policies hold a protest outside a Tesla dealership in London’s Park Royal district, on April 12, 2025 in United Kingdom. Anadolu | Anadolu | Getty Images Tesla new car sales in Europe fell for a fifth straight month in May, according to data from the European […]

Read More