US stock futures rose as Wall Street awaited April\u2019s inflation report, which is expected to provide clues about how the war in Iran is affecting the economy and where Federal Reserve interest rates may be headed.<\/p>\n
Futures attached to the Dow Jones Industrial Average (YM=F)<\/a> and the benchmark S&P 500 (ES=F)<\/a> ticked up 0.6%. Futures attached to the tech-heavy Nasdaq 100 (NQ=F)<\/a> rose 0.8%.<\/p>\n On Monday, stocks edged higher<\/a> as gains in semiconductor shares pushed the S&P 500 (^GSPC<\/a>) and Nasdaq (^IXIC<\/a>) to record highs. In the background, though, escalating tensions between the US and Iran kept investors on edge as President Trump said<\/a> the ceasefire agreement between the two countries was on \u201cmassive life support\u201d after he rejected the latest peace offer.<\/p>\n Markets are anticipating the release<\/a> of April\u2019s Consumer Price Index (CPI) on Tuesday morning. The data will provide fresh insight into how the US-Iran war is affecting the economy and shaping the direction of Federal Reserve monetary policy, especially in light of April\u2019s stronger-than-expected jobs report<\/a>. Economists expect CPI to have risen 3.7% in April.<\/p>\n Also on Tuesday, President Trump will kick off a trip to China, where he will meet with Chinese President Xi Jinping. Trade and AI are expected to top the leaders\u2019 agenda, and Trump has invited 16 top executives,<\/a> including Tesla CEO Elon Musk and Apple CEO Tim Cook, to join him during the visit.<\/p>\n Later this week, investors will get another look at inflation with the release of wholesale inflation figures on Wednesday. Earnings season also continues this week. Results are expected from Applied Materials (AMAT<\/a>), Cisco Systems (CSCO<\/a>), Alibaba Group (BABA<\/a>), and Birkenstock (BIRK<\/a>).<\/p>\n LIVE 1 update<\/p>\n Bloomberg reports:<\/p>\n GameStop Corp (GME<\/a>). shares spiked and then quickly dropped in postmarket trading Monday after cryptic social media posts showed up and then disappeared from the social media account of Keith Gill, the financial influencer known as \u201cRoaring Kitty,<\/a>\u201d who became prominent during the 2021 meme-stock craze.<\/p>\n<\/blockquote>\n GameStop\u2019s stock jumped as much as 13% before paring those gains to trade lower after the posts \u2014 including one depicting a cat, and another with a picture of the online character Pepe the Frog wearing Roaring Kitty\u2019s trademark red bandanna \u2014 were deleted around 5:40 p.m. in New York, less than an hour after they went up.<\/p>\n Shares of Chewy Inc., which was founded by GameStop\u2019s current chief executive officer, Ryan Cohen, also rose as much as 3% before erasing the move.<\/p>\n<\/blockquote>\n\n
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