United States stock futures traded slightly lower on Monday evening (Tuesday AEST), as markets took a breather following a sharp rally driven by news that the U.S. and China had agreed to temporarily reduce tariffs.
By 8:40 am AEST (10:40 pm GMT), Dow Jones futures were little changed, while S&P 500 and Nasdaq 100 futures each dipped 0.1%.
The cautious tone in overnight trading followed Monday’s strongest session since 9 April, where the Dow surged 2.8%, the S&P 500 gained 3.3%, and the Nasdaq Composite climbed 4.4%, buoyed by optimism that the temporary tariff rollback could pave the way for broader trade negotiations.
In extended trading, Coinbase jumped 9.6% after S&P Dow Jones Indices revealed that the crypto exchange will be added to the S&P 500, replacing Discover Financial Services.
Rigetti Computing shed 12.2% as the quantum computing firm missed first-quarter revenue estimates. Total revenues were reported at US$1.5 million, significantly below the $2.6 million expected.
Archer Aviation rose 2% after reporting a smaller-than-expected quarterly loss. The electric air taxi company posted a net loss of $93.4 million, narrower than the $116.9 million loss expected.
Investor attention now shifts to a key inflation reading due later in the session. Economists anticipate that the consumer price index (CPI) for April will remain steady at a 2.4% year-on-year rate.
Core CPI, which excludes volatile food and energy prices, is also projected to hold at 2.8%.
