United States stock futures were flat on Tuesday evening (Wednesday AEST) as market participants braced for the release of the May consumer price index, a closely watched gauge of inflation.
By 9:40 am AEST (11:40 pm GMT), futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 were trading within a range of 0.1%.
In extended deals, GameStop declined 3.6% after reporting first-quarter revenue that fell short of expectations. In a notable strategic move, the company also recently disclosed that it had acquired 4,710 Bitcoin between 3 May and 10 June 2025, using cash on hand.
Dave & Buster’s Entertainment gained 4.4% despite missing estimates for earnings per share in its latest quarter. Comparable store sales fell 8.3% compared with the same period in fiscal 2024, signalling continued weakness in consumer foot traffic and spending.
GitLab shed 11.8% despite quarterly results and forward guidance aligning roughly with expectations.
Investor sentiment was optimistic as U.S. and Chinese officials entered a second day of trade talks in London. While U.S. Treasury Secretary Scott Bessent departed the negotiations to return to Washington, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer continued discussions with the Chinese delegation.
The talks have drawn significant attention from markets that remain highly sensitive to trade developments. Although the U.S. and China agreed in May to temporarily suspend increased tariffs on one another, a comprehensive agreement has yet to be finalised.
In regular trading on Tuesday, the Dow Jones Industrial Average added 0.3%, while the S&P 500 and the Nasdaq Composite marked their third consecutive daily gain, rising 0.6% apiece.
Among the day’s economic data, the National Federation of Independent Business (NFIB) small business optimism index rose for the first time in 2025, gaining 3 points to reach 98.8 in May. That level surpasses the long-term average of 98.
Improved expectations for sales and business conditions contributed to the increase, partly supported by positive trade headlines.
Attention now turns to Wednesday morning’s inflation data, when the Bureau of Labour Statistics will release May’s consumer price index. Economists expect a 0.2% rise from April and a year-on-year increase of 2.4%.
A hotter-than-expected reading could unsettle investors already wary of persistent inflationary pressures.
On the corporate earnings front, Chewy and Oracle are scheduled to report results later in Wednesday's session.
