U.S. stock futures fall ahead of April CPI inflation report

2 min readUpdated May 12, 2026

U.S. stock futures were in retreat early Tuesday, with investors bracing for the release of April's consumer price index and monitoring a continued climb in oil prices as the U.S.-Iran ceasefire seemed to teeter on the brink of collapse.

Among the major market indexes, Nasdaq 100 futures led declines with a 0.7% drop, while S&P 500 futures were off 0.3%. Dow Jones Industrial Average futures shed 46 points, or about 0.1%.

U.S. small business owners grew more optimistic in June but inflation worries are climbing

On the inflation front, a Dow Jones survey of economists points to expectations for a 3.7% year-over-year rise in the April CPI, a pickup from March's 3.3% reading, along with a 0.6% gain versus the prior month. The report is set for release at 8:30 a.m. ET.

Oil prices added to the day's pressure on equities. The oil rally, which carried WTI futures to $101.01 per barrel — a 3% jump — and pushed Brent crude above $108, carried forward the momentum from Monday, when President Donald Trump cast doubt on the durability of the month-old U.S.-Iran ceasefire, calling it "unbelievably weak" and saying it was "on massive life support" after he turned down a counteroffer from Tehran.

Tehran's counteroffer encompassed a range of conditions: compensation for war damages, control over the Strait of Hormuz, access to its frozen assets abroad, and an end to existing sanctions.

Global markets were broadly under pressure, with European equities declining and the majority of Asian indexes closing negative. In South Korea specifically, The Wall Street Journal noted that stocks pulled back after a senior government official raised the possibility of sharing AI-driven economic gains directly with citizens.

In Washington, the Senate is scheduled to vote on the confirmation of Kevin Warsh as Federal Reserve chair.

Monday marked another milestone for equities, as both the S&P 500 and the Nasdaq Composite closed at all-time highs, capping a stretch of gains driven in large part by better-than-expected corporate earnings. Marci McGregor, head of portfolio strategy at Merrill and Bank of America Private Bank, said on CNBC's "Closing Bell" that she views any potential weakness as an opportunity. "If we get weakness after this really strong recovery from the March lows, I would see it as a buying opportunity, because this is a market that is being fueled by corporate profits, by capex, and frankly by a strong labor market," she said.

Stocks slip as markets await a new inflation reading

Related Content

Related Content