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US stock futures were in a holding pattern on Tuesday ahead of the second day of renewed trade talks between the US and China after an upbeat initial meeting.
Dow Jones Industrial Average (YM=F) slipped 0.1%, while those on the S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) hovered around the flat line.
Stocks edged higher on Monday after Trump officials suggested that trade talks with China in London had been productive. Treasury Secretary Scott Bessent said it was a "good meeting," while President Trump cautioned that while "China's not easy," he received "good reports."
Representatives for the countries are set to reconvene Tuesday at 10 a.m. local time in London and are expected to focus negotiations on rare earths and tech. Investors are eager for tensions between the two trading partners to resolve as the risks to economies worldwide remain high.
Read more: The latest on Trump's tariffs
Meanwhile, investors are counting down to the release of the May Consumer Price Index (CPI) report on Wednesday. The report will offer fresh insight into the state of inflation amid Trump's evolving trade policy. Analysts expect to see price pressures accelerated last month.
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Big Tech is driving bullish flows in stocks, Citi strategists say
Bloomberg reports:
US technology heavyweights have attracted a flurry of bullish bets as optimism around the economic outlook overshadows trade concerns, according to Citigroup Inc. (C) strategists.
Long positions in the technology-heavy Nasdaq 100 (^NDX) increased by more than in the S&P 500 (^GSPC) last week, the team led by Chris Montagu wrote in a note. Exposure has been mainly driven by new bullish bets, while short bets steadily declined across indexes, they said.
Chinese stocks fall amid trade talk rumors
Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues.
Bloomberg News reports:
US stocks lose support from Asia's 'buy the dip' retail traders
When President Trump set off a global stock market slump in April with his package of sweeping new tariffs, small investors across Asia rushed to the US stock market to buy the dip. Now they're backing away, data for May shows.
Bloomberg reports:
Apple's WWDC touts biggest software changes in years, but lacks splashy AI reveal
Apple (AAPL) is holding its highly anticipated annual developers' conference. Yahoo Finance's Daniel Howley reports from Silicon Valley:
Apple on Monday announced sweeping changes to its product ecosystems, including a wide-ranging revamp of its iOS operating system for its iPhones, as well as the software that powers its iPads and Macs.
The updates, which the company debuted as part of its WWDC developer event held at its headquarters in Cupertino, Calif., mark the biggest shift in Apple's software design in years. Still, the improvements were light on new AI capabilities at a time when Wall Street is looking for Apple to prove it can compete in the space. ...
While Apple showed off a handful of new features for its Apple Intelligence platform, it's unlikely to quell fears that the company is falling behind the likes of Microsoft and Google in the rapidly evolving space.
