Medora Lee, USA TODAY
1 min read
U.S. stock futures point to a lower open as investors await a key inflation report, due before the market opens.
April's annual consumer price index is expected to remain at 2.4% from March, according to the Dow Jones consensus. Core inflation, excluding the volatile food and energy sectors, is also expected to be unchanged at a 2.8% annual rate.
At 6:45 a.m. ET, futures linked to the blue-chip Dow index fell -0.28%, while broad S&P 500 futures dropped -0.29% and tech-laden Nasdaq futures slipped -0.30%.
"It’s possible that a hotter-than-expected inflation report could cause a bit of an equity market pullback," said BeiChen Lin, senior investment strategist at Russell Investments.
A pullback would come off the heels of a strong rally on Monday after the U.S. and China announced a 90-day pause on reciprocal tariffs. Effective from Wednesday, the U.S. will temporarily reduce tariffs on China to 30%, down from 145%, and China will reduce tariffs on U.S. goods to 10%, down from 125%. The S&P 500 touched a more than two-month high and the Dow soared more than 1,100 points.
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Rigetti Computing's sales in the first three months of the year fell short of estimates.
Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@usatoday.com and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
This article originally appeared on USA TODAY: US stock futures fall as investors await key inflation report
