2026.06.1012:53:24UTC+00US Futures Pare Some Losses But Remain in the Red

US stock futures trimmed earlier losses but remained in negative territory on Wednesday, with S&P 500 futures down 0.5%, Nasdaq 100 futures off 0.8%, and Dow Jones futures lower by about 250 points. Investors assessed the latest CPI report, which showed annual inflation accelerating to 4.2% in May, in line with expectations, while core monthly inflation eased more than forecast to 0.2%. The figures offered some reassurance that the recent energy shock has not yet meaningfully fed through into broader price pressures.

After the data, traders slightly dialed back expectations for additional Fed rate hikes this year, though a 25 bps increase in December remains fully priced in. Sentiment was also dampened by renewed weakness in technology shares as concerns over stretched valuations resurfaced. Geopolitical risks stayed in focus as well, with Iran and the US continuing to exchange strikes. In premarket trading, Nvidia slipped 1.4%, Broadcom declined 1.3%, and Micron Technology fell 2%.