US-China trade truce euphoria is giving way to worry over economic slowdown in the wait for the latest US consumer inflation report

U.S. stock index futures were down on Tuesday, pulling back after a sharp rally fueled by a U.S.-China trade truce, as investors turned their focus to a key U.S. inflation reading that could shape the outlook for monetary policy.

US stocks hold steady today as CPI eases and tariff relief boosts sentiment. UnitedHealth drops, while Coinbase and Sea Limited post big gains.

Wall Street was on track to open with losses as the initial euphoria over the 90-day truce in the U.S.-China trade war faded.

U.S. Trade Representative Jamieson Greer, left, and U.S. Secretary of the Treasury Scott Bessent take part in a press conference after two days of closed-door discussions on trade between the United States and China, in Geneva, Switzerland, Monday, May 12, 2025. (Jean-Christophe Bott/Keystone via AP) AP

U.S. futures surged after the U.S. and China announced they were suspending for 90 days most of the sharp tariff hikes each has imposed since U.S. President Donald Trump began escalating his trade war

Trump makes a momentous political comeback, breaking through the "blue wall" to win 312 electoral votes. Trump becomes only the second US president in history to be elected to non-consecutive terms, following Grover Cleveland (the 22nd and 24th US president).

Oil jumped as much as 4% before paring gains Monday after a US-China trade truce sent the overall stock market and commodities higher. West Texas Intermediate ( CL=F) futures rallied over 2% to hover near $62.50 per barrel. Brent crude ( BZ=F ), the international benchmark, also rebounded to trade above $65.

U.S. stock futures point to a lower open as investors await a key inflation report, due before the market opens.