Stock futures indicated a downward trajectory in anticipation of a significant U.S. inflation report on Tuesday, while oil prices persisted in their upward movement following President Donald Trump’s assertion that the ceasefire with Iran was “on massive life support.” Futures for the Nasdaq 100, S&P 500, and Dow Jones Industrial Average experienced declines of 0.8%, 0.4%, and 0.1%, respectively, in the latest trading session. Yesterday, technology equities contributed to the upward movement of the primary U.S. indices at the start of the week, with the S&P 500 and Nasdaq Composite achieving record closing levels.

On Tuesday morning, investors will direct their attention to the Bureau of Labor Statistics as it unveils the Consumer Price Index for April, scheduled for release at 8:30 am. Analysts anticipate that the data will reveal a 3.8% increase in prices year-over-year for April, an uptick from the 3.3% annual rise recorded in March, marking the highest inflation rate observed since May 2023. Excluding the fluctuations in food and energy prices—gasoline has increased by over $1.50 a gallon since the onset of the conflict, as reported — “core” inflation is projected to have risen by 2.7% over the year, an increase from 2.6% in March, marking its highest level since September. Prior to the release of the CPI, the yield on the 10-year Treasury, a key determinant of interest rates for mortgages and various consumer loans, stood at 4.43%, an increase from 4.41% at the close on Friday. Oil prices, which increased yesterday following Trump’s dismissal of Iran’s reply to a U.S. proposal aimed at concluding the conflict, maintained their upward trajectory on Tuesday.

West Texas Intermediate futures, the U.S. crude oil benchmark, increased by 3.8% to $101.80 a barrel, whereas front-month contracts of Brent crude, the global benchmark, rose by 3.7% to $108. Gold futures experienced a decrease of 0.4%, settling at $4,710 per ounce. Bitcoin was approximately $80,900, a decline from overnight peaks of about $82,100. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, registered an increase of 0.3%, reaching 98.24. In corporate developments, shares of the Magnificent Seven tech giants indicated a downward trend prior to the market opening, following a majority of them closing lower in the previous trading session. Nvidia, the world’s most valuable company, finished up 2% to set its latest all-time high but was down nearly 1% early Tuesday. Shares of GameStop fell nearly 5% in premarket trading after eBay rejected the video game retailer’s “neither credible nor attractive” $56 billion unsolicited takeover offer. EBay’s stock experienced a decline of less than 1%.

Chipmakers Intel and Micron Technology, which set their latest record highs yesterday, pointed down 3.5% and 2.5%, respectively. Additionally, Hims & Hers Health experienced a decline of 15% following the announcement of an unexpected net loss. GitLab saw a decrease of 12% after the software company revealed plans to reduce its workforce “to accelerate our unique opportunity in the agentic era.” Conversely, On Holding increased by 2% after the Swiss sneaker manufacturer reported record first-quarter net sales and profitability “despite meaningful headwinds from higher U.S. tariffs.” Tomorrow, the attention of investors will pivot towards the summit in Beijing involving Trump and Chinese leader Xi Jinping.