Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
U.S. stock futures held steady Tuesday evening following a positive close for the S&P 500 and Nasdaq, driven by easing inflation and optimism over the U.S.-China trade deal. S&P 500 Futures edged up 0.1% to 5,908.0, Dow Jones Futures gained 0.1% to 42,265.0, while Nasdaq 100 Futures hovered near flat at 21,290.50.
Earlier in the day, the S&P 500 climbed 0.7% and the Nasdaq surged 1.6%, fueled by a softer-than-expected April CPI reading. Meanwhile, the Dow dipped 0.6%, pressured by an 18% drop in UnitedHealth (NYSE:UNH) after it withdrew its full-year outlook and CEO Andrew Witty announced his resignation amid rising medical costs.
The consumer price index rose 2.3% year-over-year in April, slightly below forecasts of 2.4%. Month-over-month inflation came in at 0.2%, under the expected 0.3%, and core inflation also rose just 0.2%, easing pressure on the Federal Reserve to tighten policy.
Adding to market cheer, the U.S. and China agreed to a 90-day reduction in tariffs. The U.S. will slash tariffs on Chinese goods from 145% to 30%, while China will cut its own from 125% to 10%. Lower trade tensions are seen as supportive of economic growth and may reduce inflationary risks.
Nvidia (NASDAQ:NVDA) jumped 5.6% after confirming a major AI chip sale to Saudi firm Humain for a planned 500 MW data center. Boeing (NYSE:BA) rose 2% as China lifted a ban on plane deliveries. Coinbase (NASDAQ:COIN) surged ahead of its May 19 inclusion in the S&P 500, while Under Armour (NYSE:UAA) gained on strong quarterly revenue.
