US stock futures fell slightly early Tuesday, even after Monday’s rally on news of a temporary US-China trade deal. The agreement cuts US tariffs on Chinese goods to 30% (from 145%) and Chinese tariffs on US imports to 10% (from 125%) for 90 days.
- Dow futures down 0.2%
- S&P 500 futures down 0.3%
- Nasdaq futures down 0.4%
Monday’s surge lifted Big Tech stocks, but investors are now eyeing April’s Consumer Price Index (CPI) report, due at 8:30 a.m. ET, for signs of how Trump’s tariffs have impacted inflation.
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China stocks slide on stimulus worries
Chinese markets fell as traders feared Beijing may ease economic stimulus after the trade truce. Hong Kong’s Hang Seng China Enterprises Index dropped 2%, while the CSI 300 edged up 0.2%.
Gold holds losses as risk appetite returns
Gold steadied after a 2.7% drop on Monday as investors shifted to riskier assets. Prices hovered near $3,237/oz, pressured by a stronger dollar and rising Treasury yields.
Legal challenge to Trump’s tariffs
A New York importer is challenging Trump’s use of the 1977 International Emergency Economic Powers Act to justify tariffs. The case could test the president’s authority to impose sweeping trade measures.
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