Stock Futures Flat as Markets Brace for CPI and Iran Ceasefire Wobbles

CNBC reported Monday night that US stock futures were hugging the flatline as investors positioned ahead of a closely watched April CPI release and kept a wary eye on fracturing ceasefire negotiations between Washington and Tehran.

Futures Drift as Tuesday’s Data Takes Center Stage

Futures linked to the S&P 500 edged marginally higher after the close. Nasdaq 100 futures were essentially unchanged. Dow futures added roughly 39 points, less than 0.1% on the session. The muted overnight posture followed a day of modest but meaningful gains. The S&P 500 added 0.19% during the regular session and notched a fresh closing high above 7,400. The Nasdaq Composite edged up 0.1%, while the Dow climbed about 95 points.

Economists surveyed by Dow Jones forecast April’s headline inflation at 3.7% year-on-year. Month-on-month CPI is expected to come in at 0.6%. The data drops at 8:30 a.m. ET Tuesday. Traders will also parse final readings on hourly earnings, average workweek figures, and the treasury budget.

Background: A Rally Built on Earnings and Labor Strength

The S&P 500’s run to fresh highs is underpinned by a resilient earnings season and a firm jobs market. Marci McGregor, head of portfolio strategy at Merrill and Bank of America Private Bank, told CNBC that any post-recovery softness should be treated as a buying opportunity. She pointed to corporate profit growth, rising capital expenditure, and labor market durability as pillars supporting the advance.

Stocks have spent much of recent weeks recovering from a sharp selloff that troughed in March. The index has posted its longest weekly winning streak since 2024 during the rebound.

Also Read: Iran Nuclear Talks Timeline: Key Moments Since the Ceasefire Began

Iran Developments Lift Oil, Rattle Sentiment

Oil prices moved higher Monday after President Donald Trump described the month-old US-Iran ceasefire as “unbelievably weak” and said it was on “massive life support.” Tehran’s latest counterproposal reportedly demands war reparations, full sovereign control over the Strait of Hormuz, release of frozen assets, and full sanctions relief. Trump called the offer unacceptable. Any breakdown in talks risks tightening an already strained energy corridor and feeding directly into inflation readings traders are already nervous about.

Several companies report earnings before Tuesday’s bell, including Under Armour, Vodafone, On Holding, eToro, and Tencent Music Entertainment.

Also Read: Oil Markets Brace for Middle East Supply Risk as Tensions Escalate

Read Next: S&P 500 Ekes Out a Gain for First Close Above 7,400 Despite Iran Setback