Stock futures fall after big rally, key inflation report on deck: Live updates

Stock futures fell in early Tuesday following a big rally, as investors look ahead to a key inflation report.

Futures on the dipped 247 points, or 0.5%, weighed by a 10% decline in after the company suspended its 2025 outlook. and fell 0.2% each.

The , a broad measure of goods and services costs across the U.S. economy, is expected to remain at a 2.4% rate in April on a year-over-year basis, according to the Dow Jones consensus. Excluding food and energy, so-called core inflation is expected to run at a 2.8% annual rate, also unchanged from the prior month.

"We will be digging into the data to see if continued or if reports of higher costs for some businesses, which have been reported in recent survey data, have translated to higher prices for consumers," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management.

Wall Street enjoyed after the U.S. and China agreed to , raising hopes a trade war won't tip the economy into a recession.

The blue-chip  surged more than 1,100 points, while the  popped over 3%, cutting its year-to-date losses to just 0.6%. The  added 4.4%. All three averages posted their best day since April 9.

After negotiations in Switzerland over the weekend, the U.S. and China reached a deal to cut "reciprocal" tariffs between both countries down to 10%. The U.S.′ 20% duties on Chinese imports relating to fentanyl will remain in place, meaning total tariffs on China stand at 30%.

Treasury Secretary Scott Bessent told C온라인카지노사이트's "" on Monday that he expects to meet once again with representatives from Beijing in the "" to start ironing out a bigger agreement.

Investors should remain flexible as markets likely to remain range bound, says Wells Fargo

Wall Street still has ample headwinds to contend with even as President Donald Trump temporarily slashed stiff tariffs on China, according to Wells Fargo.

"Despite the sharp rebound in more risk assets, markets are by no means out of the woods, and we expect more volatility along with some resistance as investors continue to evaluate the tariff situation and its impact on the global economy and corporate earnings," Wells Fargo Investment Institute global equity strategist Chris Haverland wrote in a Monday note.

"We recommend a nimble approach to rebalancing for all major asset classes, as we anticipate range- bound markets toward year end," he added.

— Brian Evans

UnitedHealth falls after suspending 2025, CEO stepping down

Shares of dropped 7% in the premarket Tuesday after the company announce it is suspending its 2025 outlook due to higher-than-expected medical expenditures.

Additionally, UnitedHealth announced CEO Andrew Witty was stepping down, effective immediately, for personal reasons. Stephen Hemsley replaces Witty as chief executive.

— Fred Imbert

Asia-Pacific markets trade mixed after Wall Street's massive rally on U.S.-China trade deal

Asia-Pacific markets traded mixed Tuesday, following Wall Street's massive rally on the back of a between the U.S. and China, which includes a 90-day pause on tariffs and a drop in reciprocal tariffs by 115 percentage points.

Hong Kong stocks fell sharply, with the  declining 1.87% — its sharpest drop in nearly a month — to close at 23,108.27, while the Hang Seng Tech Index plunged 3.26% to 5,269.66. This was a reversal from the strong gains both indexes logged in the previous session. Meanwhile, mainland China's  index ended the day 0.15% higher at 3,896.26.

Indian markets fell with the benchmark  down 1.27% while the BSE Sensex lost 1.49% as of 1.42 p.m. local time. This is a reversal from the significant gains in the previous session, when Indian markets posted their , following optimism over the .

Over in Japan, the pared gains to 1.43% to end the day at 38,183.26. This marks the benchmark's fourth consecutive positive session. Meanwhile, the broader Topix index advanced 1.10% to 2,772.14, making this its 13th straight day of gains.

South Korea's  closed flat at 2,608.42 while the small-cap Kosdaq added 0.89% to 731.88.

In Australia, the benchmark rose 0.43% to end the day at 8,269.

— Amala Balakrishner

SoftBank Vision Funds swing to annual loss

's Vision Fund business on Tuesday posted a loss in the fiscal year ended March as it booked slowing gains at its massive tech investment arm.

SoftBank said it notched a gain on investment at its Vision Funds of 434.9 billion yen in the fiscal year, a 40% fall from the 724.3 billion yen booked in the previous year.

The Vision Fund segment overall logged a pretax loss of 115.02 billion yen ($777.7 mllion) versus a profit of 128.2 billion yen in the previous fiscal year.

Goldman cuts recession risk to 35% from 45% after Chinese tariff pause

Economists Goldman Sachs cut their estimated risk of a recession in the U.S. to 35% from 45% after President Donald Trump's temporary pause on Chinese tariffs.

"In light of the somewhat smaller hit to GDP growth, the reduced risk of US-China tariffs high enough to cause production disruptions, and the encouraging signal about future tariff policy decisions, we are lowering our 12-month recession probability to 35% (vs. 45% previously)," the firm wrote in a note to clients.

Goldman said the Trump administration is likely to announce other preliminary trade deals over the next few weeks, which might lower the US effective tariff rate slightly further.

— Yun Li, Michael Bloom

Stocks making moves after the bell

Check out the companies making headlines after the bell: 

•  — The electric air taxi company's shares climbed nearly 5% in after-hours trading after a better-than-feared quarterly report. Archer Aviation posted a net loss of $93.4 million, narrower than a FactSet consensus estimate of a $116.9 million loss.
• — The quantum computing firm saw shares tumbling more than 13% in extended trading after the company's first-quarter sales fell short of estimates. Rigetti's revenue of about $1.5 million came way below a FactSet consensus estimate of $2.6 million.
• — The crypto exchange surged 8% in after-hours trading. Coinbase will , replacing Discover Financial Services. The change will before the start of trading on May 19. Discover is in the process of by Capital One Financial.

— Yun Li