US Futures Turn Higher after Soft CPI Print

US stock futures turned higher Wednesday after inflation came in softer than expected, boosting hopes for rate cuts.

S&P 500 futures rose 0.4%, Nasdaq 100 gained 0.5%, and Dow futures climbed 130 points.

CPI rose 2.4% in May, below the 2.5% forecast, while monthly inflation edged up just 0.1%, driven mainly by shelter costs.

The report eased concerns of a reacceleration in inflation.

Sentiment was further lifted by progress in US-China trade talks.

President Trump said China would supply rare earths to the US upfront as part of a deal, calling the relationship “excellent,” though the agreement awaits final approval with President Xi.

The US will impose 55% tariffs, compared to 10% from China.

Key tech stocks including Nvidia, Microsoft, Apple, Amazon, and Meta rose between 0.4% and 0.7% in premarket trading.

Tesla jumped nearly 3% after Elon Musk walked back recent criticism of Trump, further calming markets.