U.S. stock futures declined as traders evaluated a preliminary U.S.-China trade agreement and new inflation data. S&P 500 futures dropped by 0.2%, alongside Nasdaq 100 futures. Futures tied to the Dow Jones Industrial Average also fell by 72 points, or 0.2%. These movements followed a report that U.S. consumer prices increased less than expected in May. The consumer price index rose 0.1% for the month, compared with forecasts of a 0.2% increase. Core CPI, excluding food and energy prices, also rose less than anticipated. In response to these developments, all three key benchmarks closed lower overnight. President Trump mentioned in a Truth Social post that the deal with China was ‘done, subject to final approval with President Xi and me.’ As part of the deal framework, China will supply magnets and rare earths upfront, and the U.S. will allow Chinese students to attend U.S. colleges and universities. Despite this, stock and bond investors remained cautious. — new from CNBC
