United States stock futures traded near flat levels on Monday night (Tuesday AEST) as investors prepared for the release of April consumer price index (CPI) data, which is expected to provide further insight into the inflation outlook and the potential path of interest rates.
By 9:30 am AEST (11:30 pm GMT), Dow futures were up 0.1%, while S&P 500 futures and Nasdaq 100 futures edged marginally higher, up 0.03% apiece.
In after-hours trading, several companies came under pressure following earnings updates and guidance revisions.
Hims & Hers Health fell more than 6% after the company forecast adjusted EBITDA for the second quarter between US$35 million and $55 million, below market expectations of $70 million.
Webtoon Entertainment dropped 9.5% after the digital comics platform issued second-quarter revenue guidance of between $332 million and $342 million, slightly below analyst forecasts of $348 million.
The company’s first-quarter revenue of $320.87 million also missed consensus estimates of $321.57 million.
AST SpaceMobile declined 10% after reporting a quarterly loss of $0.66 per share, substantially wider than expectations for a $0.24 loss per share. Revenue also disappointed, with the company generating $14.73 million compared with expectations of $39.01 million.
GitLab shares fell 7.2% after chief executive Bill Staples announced a broad restructuring initiative linked to the company’s transition toward agentic AI technologies.
The software company said the plan would include workforce reductions, management cuts and a narrower international footprint. GitLab plans to reduce the number of countries in which it operates by up to 30%, eliminate as many as three layers of management and reorganise its research and development division into around 60 smaller teams.
The company also said it would expand the use of agentic AI across internal operations. GitLab did not specify the number of positions expected to be eliminated or the financial impact of the changes, stating further details would be provided during its June 2 earnings call.
Ahead in Tuesday's U.S. session, April’s CPI reading is slated for release, with economists expecting headline consumer prices to rise 3.7% annually in April.
On a monthly basis, CPI is forecast to increase 0.6%.
The inflation release comes after a modestly positive session for Wall Street, with the S&P 500 and Nasdaq Composite both reaching fresh intraday and closing record highs during Monday’s regular trading session.
The Dow Jones Industrial Average and the S&P 500 each gained 0.2%, while the Nasdaq Composite added 0.1%.
Oil prices also remained in focus after President Donald Trump described the month-old ceasefire between the United States and Iran as “unbelievably weak” and “on massive life support” following Tehran’s latest counterproposal to end the conflict.
Iran’s latest proposal reportedly included demands for war reparations, full sovereignty over the Strait of Hormuz, the release of frozen Iranian assets and the removal of sanctions.
The renewed tensions raised concerns about global oil supplies and the potential inflationary impact of higher energy prices.
Investors will also monitor several additional economic releases on Tuesday, including average hourly earnings, average workweek data and the U.S. Treasury budget statement.
Corporate earnings remain active, with Under Armour, Vodafone, On Holding, Aramark, eToro and Tencent Music Entertainment among the companies scheduled to report results before the opening bell.
