Stock Futures Point to a Bumpy Start

As U.S. stock futures indicate a lower opening today, investors brace for a day filled with crucial economic updates. Following a positive stretch for major indexes, the Dow Jones futures are down 0.4%, while Nasdaq and S&P 500 futures have similarly dipped. Bitcoin holds steady at over $109,000, and both oil and gold futures are on the rise.

Major Trade Truce Announced Between U.S. and China

In a significant development, U.S. and Chinese negotiators have forged a framework for a trade truce, potentially easing tariffs imposed on both sides. Following two days of intense talks, this agreement is pending approval from President Trump and President Xi Jinping. U.S. Commerce Secretary Howard Lutnick highlighted the breakthrough, hinting at a resolution of China's restrictions on rare-earth exports.

Inflation Fears Loom as May Data Set to Release

Investors are also keenly awaiting the release of May’s inflation data at 8:30 a.m. ET. Experts predict the Consumer Price Index (CPI) will reveal a small uptick to an annual rate of 2.4%, driven by product tariffs imposed by the Trump administration. Core inflation is also expected to rise, indicating ongoing economic pressures.

Elon Musk Talks Tesla's Robotaxi Launch and Trump Regrets

In premarket buzz, Tesla shares are up 2% amid news from CEO Elon Musk, who has shared the ambitious timeline for launching the eagerly awaited robotaxi service by June 22. In a surprising turn, Musk also expressed regret over some of his recent comments about President Trump, signaling a shift in tone. "We are committed to safety, which might adjust the rollout date," he noted, while Tesla’s stock rebounds after a rocky week.

Google Makes Waves with New Employee Buyouts

In corporate moves, Alphabet's Google is reportedly offering buyouts to its U.S. employees, a strategic decision that could reshape workforce dynamics. This shift comes as the tech giant navigates a rapidly changing market landscape.