Stock futures showed little movement in overnight trading following a significant rally, as investors anticipate a key inflation report on Tuesday morning. Dow Jones Industrial Average futures dipped by 16 points, while S&P 500 and Nasdaq 100 futures were marginally lower. The consumer price index, measuring goods and services costs across the U.S., is expected to remain at a 2.4% rate in April year-over-year. Core inflation, excluding food and energy, is projected at a 2.8% annual rate. Investors will scrutinize the data to see if March’s slower pace continued or if higher costs for businesses have translated to consumer prices. Monday saw a major rally after the U.S. and China agreed to cut tariffs for 90 days, reducing fears of a trade war-induced recession. The Dow surged over 1,100 points, the S&P 500 rose more than 3%, and the Nasdaq Composite added 4.4%. Following negotiations in Switzerland, both countries agreed to reduce ‘reciprocal’ tariffs to 10%, though U.S. duties on Chinese imports related to fentanyl remain at 20%, keeping total tariffs on China at 30%. — new from CNBC
