Stock Futures Slip Ahead of April CPI as Iran Ceasefire Strains Markets
CNBC reported Tuesday that US stock futures eased in early trading as investors positioned ahead of the April CPI release and kept a close eye on deteriorating signals from US-Iran ceasefire negotiations.
S&P 500 futures fell roughly 0.16%, while Nasdaq 100 futures dropped 0.33%. Dow Jones Industrial Average futures were marginally in the red. The moves came after a broadly positive Monday session, during which both the S&P 500 and Nasdaq Composite reached fresh intraday and closing records.
Inflation Print Takes Center Stage
The April CPI report, due at 8:30 a.m. ET Tuesday, is the session’s defining data event. Economists surveyed by Dow Jones forecast headline inflation rose 3.7% year-over-year in April. Month-over-month, the same group anticipates a 0.6% gain in consumer prices.
Beyond the headline figure, traders will also parse April readings on average hourly earnings, average workweek hours and the Treasury budget. Together, the figures could shape near-term expectations for Federal Reserve rate policy.
Iran Ceasefire Adds a Geopolitical Wildcard
Oil prices climbed Monday after President Donald Trump publicly declared the month-old US-Iran ceasefire “unbelievably weak” and said it was on “massive life support.” He cited an unacceptable counterproposal from Tehran as the catalyst for his skepticism.
Iran’s latest offer reportedly includes demands for war reparations, full control over the Strait of Hormuz, the release of frozen Iranian assets and a full lifting of sanctions. Those terms appear far from what Washington is willing to accept.
Energy was the strongest-performing sector on Monday, gaining 2.63%. Materials, industrials and information technology also closed higher. Communication services led decliners, falling 2.33%.
A Resilient Rally Meets Crosscurrents
The broader equity rally has been underpinned by a strong corporate earnings season and robust labor market data. Marci McGregor, head of portfolio strategy at Merrill and Bank of America Private Bank, told CNBC’s “Closing Bell” on Monday that any near-term pullback would likely represent a buying opportunity.
She argued the advance is grounded in genuine fundamentals, pointing to corporate profit growth, rising capital expenditure and a healthy jobs backdrop as durable supports for the market.
Also Read: Fed Officials Watch Labor Market Closely as Rate-Cut Debate Continues
What Earnings Are Showing
Tuesday’s pre-market earnings calendar features Under Armour, Vodafone, On Holding, Aramark, eToro and Tencent Music Entertainment. A solid run of results in recent weeks has helped push the S&P 500 through the 7,400 level for the first time.
After hours Monday, notable movers included Hims and Hers Health, which fell more than 12% on a soft EBITDA outlook, and GitLab, which dropped around 8% after its CEO unveiled a restructuring plan tied to an agentic AI pivot.
