Stock Market Today: S&P 500, Nasdaq 100 Futures Drop As April Inflation Runs Hotter Than Expected

U.S. stock futures fell on Tuesday after Monday’s higher close. This followed President Donald Trump‘s sharp criticism of Iran’s latest response to a U.S. proposal aimed at ending the conflict, saying the ceasefire is now “on life support.” “I would call it the weakest right now,” Trump said, adding he viewed Tehran’s demands as unacceptable. On the economic front, inflation ran hotter than anticipated, with the April Consumer Price Index (CPI) rising 3.8% year-over-year, which surpassed the 3.7% median estimate by FactSet. Core CPI, which excludes volatile food and energy costs, climbed 2.8% over the last 12 months and 0.4% on a monthly basis. Meanwhile, the NFIB Small Business Optimism Index edged up 0.1 points to a reading of 95.9 in April, though it remains below its 52-year historical average. The SPDR S&P 500 ETF Trust (NYSE: SPY) and Invesco QQQ Trust ETF (NASDAQ: QQQ), which track the S&P 500 and Nasdaq 100, respectively, were lower in premarket on Tuesday. The SPY was down 0.52% at $735.45 , while the QQQ declined 1.03% to $705.96.