U.S. stock futures trended lower on Tuesday morning on a higher-than-anticipated April inflation reading. Also, oil prices rose amid persistent tensions between the U.S. and Iran. Notably, President Donald Trump rejected Iran’s latest proposal to end the conflict. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.94%, 0.43%, and 0.08%, respectively, at 8:40 a.m. EDT on May 12.
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New trading tool for QQQ bullsThe Consumer Price Index (CPI) rose 3.8% annually in April, higher than the consensus expectation of 3.7%. The annual headline inflation reading was the highest since May 2023. Meanwhile, the CPI Index advanced 0.6% on a seasonally adjusted basis last month, in line with expectations.
Meanwhile, President Donald Trump said that the month-old ceasefire between the U.S. and Iran looked weak after he rejected Iran’s latest proposal to end the war. Iran reportedly asked for war compensation, control over the Strait of Hormuz, access to frozen assets, and relief from sanctions.
At the time of writing, Brent crude (CM:BZ) rose 3.46% to about $107.82 per barrel, while WTI crude (CM:CL) gained 3.6% to around $101.57.
In Monday’s regular trading session, tech stocks lifted major U.S. indices, with the S&P 500 and Nasdaq closing at record highs. Both the Dow Jones and the S&P 500 gained 0.19%, while the Nasdaq Composite rose 0.10%.
In Tuesday’s pre-market trading, Under Armour (UAA) stock plunged after reporting a higher-than-anticipated loss per share and disappointing revenue. Also, Hims & Hers Health (HIMS) stock tanked by 14% after the telehealth company issued dismal earnings guidance. Furthermore, AST SpaceMobile (ASTS) stock fell more than 11% after the company reported a larger-than-anticipated loss for the first quarter.
Meanwhile, GitLab (GTLB) shares fell 12% after CEO Bill Staples announced a restructuring plan as the software company moves into agentic AI. Wendy’s (WEN) stock rallied more than 16% after the Financial Times reported that Nelson Peltz’s Trian Fund Management was seeking to raise funds to take the fast food chain private.