US Stocks Are Lower Ahead Of CPI – Europe Market Wrap

The Wall Street stocks rally headed for a pause as optimism around the temporary tariff cuts agreed between the US and China gave way to lingering concern about inflation and economic growth.

Futures pointed to a drop of 0.3% for the S&P 500 and a 0.2% decline for the Nasdaq 100. UnitedHealth Group Inc. sank 10% in premarket trading after suspending its 2025 outlook. Appetite for safer assets picked up again, with Treasury yields falling and gold prices on the rise. The dollar slipped.

Investors are taking a breather after the 90-day tariff cool-off announced on Monday sent risk assets on a tear and propelled the Nasdaq back into a bull market. They’ll be looking for clues on the trajectory of Federal Reserve interest rates in the US inflation print due later in the day – the first to potentially show tariff-related costs.

Optimism over the US-China detente saw the S&P 500 Index close up 3.3% on Monday, higher than where it was when President Donald Trump announced sweeping “Liberation day” tariffs on April 2. A surge in big tech shares put the Nasdaq 100 back into a bull market just about a month after it plunged 20% from a previous record high.