Stock market today: Dow, S&P 500, Nasdaq futures stall in wait for CPI to reveal tariff impact on inflation

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US stock futures backed off on Tuesday as economic worries replaced US-China trade truce euphoria in the wait for the latest US consumer inflation report to reveal the impact of tariffs.

📝 Goldman lifts S&P 500 targets with caution on market optimism

The outlook for US equities is improving as trade tensions with China ease, though pricing is already looking optimistic given lingering uncertainties, according to Goldman Sachs Group Inc. strategists. Yahoo Finance reports.

🔋 Amazon, Apple power ‘Magnificent Seven’ to more than $830 billion in market-cap gains in one day

The group of tech stocks known as the Magnificent Seven added more than $830 billion in market capitalization on Monday after the U.S. and China agreed to roll back tariffs on each other for 90 days — keeping fears of a recession at bay for now, according to some analysts. Market Watch reports.

🏍️ Honda Motor reports 76% plunge in operating profit in huge earnings miss

Japanese auto giant Honda missed fourth-quarter earnings estimates as operating profit plunged 76%, with the company bracing for the full impact of U.S. tariffs. Here are Honda’s results compared with mean estimates from LSEG:

• Revenue: 5.36 trillion yen ($47.26 billion) vs. 5.36 trillion yen
• Operating profit: 73.5 billion yen vs. 275.52 billion yen

Honda’s fourth quarter ends March 31. CNBC reports.

🍏 Apple May 'Up Its Numbers' Amid China Tariff Truce: Trump Talks $500 Billion US Investment After Tim Cook Call

In the wake of a 90-day suspension of most tariffs between the U.S. and China, President Donald Trump stated that he engaged in talks with Apple Inc. CEO Tim Cook.

What Happened: Trump revealed that Cook intends to boost Apple’s investment in U.S. operations. “I spoke to Tim Cook this morning and he’s going to, I think, even up his numbers,” Trump said. “$500 billion, he’s going to be building a lot of plants in the United States for Apple. And we look forward to that.” Benzinga reports.

🏦 Treasury yields flat as investors parse China-U.S. trade deal, await inflation print

Treasury yields traded relatively flat as investors continue to parse the recent China-U.S. trade deal and await key U.S. inflation data.

At 6:19 a.m. ET, the 10-year Treasury yield was up under a basis point to 4.449%, while the 2-year Treasury yield fell 2 basis points to 3.983%. One basis point is equivalent to 0.01%, and yields and prices have an inverse relationship. MSN reports.

🍔 McDonald’s announces plans to hire 375,000 workers with Trump Labor secretary

McDonald’s on Monday announced plans to hire up to 375,000 workers this summer at a news conference that included U.S. Labor Secretary Lori Chavez-DeRemer. While McDonald’s has long been one of President Donald Trump’s culinary favorites, the company has been cozying up to his administration during his second term.

The company likely hopes to stay in Trump’s good graces and avoid obstacles to its business, like Health and Human Services Secretary Robert F. Kennedy Jr.’s “Make America Healthy Again” agenda or unfavorable regulation by the Department of Labor. CNBC reports.

🚙 Nissan more than doubles layoffs to around 20,000

Nissan unveiled sweeping new cost cuts Tuesday, saying it would eliminate 11,000 more jobs and scale back production, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around.

The new layoffs will bring Nissan’s total workforce reduction to around 20,000 jobs, after it previously announced plans to cut 9,000 positions. CNN reports.

🚗 GM hires ex-Tesla, Aurora exec as chief product officer

General Motors has hired Sterling Anderson, a former Tesla executive and co-founder of autonomous vehicle company Aurora Innovation, as its chief product officer.

In the newly created position, Anderson will oversee the “end-to-end product lifecycle for both gas- and electric-powered vehicles, including hardware, software, services, and user experience,” GM said Monday. CNBC reports.

☮️ Trump tariffs live updates: US cuts 'de minimis' tariff as China lifts Boeing ban

A White House executive order announced on Monday that the US will cut the "de minimis" tariff on China shipments to 54% from 120%, with a $100 flat fee starting May 14.

This comes as the US and China agree to pause most tariffs for 90 days, marking a significant de-escalation in their trade conflict. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $LOBO: Lobo EV Technologies

Total gain: +231.57%

2) $LICN: Lichen International

Total gain: +110.34%

3) $LSEA: Landsea Homes

Total gain: +58.94%

4) $INHD: Inno Holdings

Total gain: +55.08%

5) $ORIS: Oriental Rise Holdings

Total gain: +26.83%

The closing price of the top three market percent gainers trading near or above $3 on May 12.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) $KDLY: Kindly MD

Total gain: +249.87%

The company announced that it has entered into a definitive merger agreement with Nakamoto Holdings to initiate a Bitcoin treasury strategy. Benzinga reports.

2) $CTMX: CytomX Therapeutics

Total gain: +129.96%

The company announced the pricing of an underwritten offering of 76,923,076 shares of its common stock at an offering price of $1.30 per share, before underwriting discounts and commissions. All of the shares are being offered by the company. Gross proceeds from the offering are expected to be approximately $100 million, before deducting underwriting discounts, commissions, and other offering expenses. Benzinga reports.

3) $FNKO: Funko

Total gain: +46.01%

The stock appeared to be moving on no notable news.

Time (ET) / Report / Period

6:00 am - NFIB optimism index - April

8:30 am - Consumer price index - April

“You have to keep your priorities straight if you plan to do well in stocks.”

- Peter Lynch

Sourced in:
“Beating the Street”, by Peter Lynch, published in 1993