U.S. stock futures are little changed as investors prepare for today's July CPI report, which is expected to show inflation moved higher again; the U.S. extended its trade truce with China by 90 days, avoiding a stark rise in tariffs with its important trade partner; Elon Musk threatens to sue Apple (AAPL) over App Store rankings; and C3.ai (AI) stock is in focus after plunging yesterday on the firm's weak revenue projection. Here's what investors need to know today.
1. US Stock Futures Little Changed as Investors Watch for Inflation Data
U.S. stock futures are little changed as investors look ahead to today's release of July inflation data. S&P 500, Dow Jones Industrial Average, and Nasdaq futures all are near flat after the indexes closed lower in the prior session. Bitcoin (BTCUSD) price levels are down to around $118,000 after approaching all-time highs yesterday. The yield on the 10-year Treasury note is little changed. Gold and oil futures are pointing slightly lower.
2. CPI Expected to Show Inflation Increased in July
Inflation is expected to have moved higher in July when the Consumer Price Index (CPI) inflation report is released at 8:30 a.m. ET. The CPI report is expected to show prices rose by 2.8% year-over-year last month, up from June's 2.7% reading, according to economic consensus compiled by The Wall Street Journal and Dow Jones Newswires. The closely watched “core” CPI reading is expected to have increased to 3.1% from 2.9%. The report comes days after President Donald Trump fired Bureau of Labor Statistics head Erika McEntarfer after the July jobs report showed a surprisingly large slowdown in hiring.
3. U.S. Extends Tariffs Truce With China by 90 Days
The White House on Monday extended its trade truce with China by 90 days, hours before it was set to raise tariffs on Chinese-made goods to an extreme level. Had President Trump not extended the pause, tariffs on most products from China would have risen to 145% starting Tuesday. The two sides have scaled back their mutual tariffs )though still set at elevated levels), and lifted restrictions on materials such as rare earth minerals from China and U.S.-made computer chips.
4. Musk Threatens Lawsuit Against Apple Over App Store Rankings
Elon Musk threatened to sue Apple (AAPL) over App Store rankings of his social media network X and the Grok artificial intelligence chatbot. Musk wrote on his X social media network late Monday that its parent company, xAI, “will take immediate legal action” against Apple for an alleged “antitrust violation.” Musk, whose xAI developed the Grok AI chatbot, wrote, “Hey @Apple App Store, why do you refuse to put either 𝕏 or Grok in your ‘Must Have' section when 𝕏 is the #1 news app in the world and Grok is #5 among all apps?”
5. C3.ai Stock in Focus After Plummeting on Firm's Weak Revenue Projection
C3.ai (AI) shares are in focus after plunging more than 25% Monday as the AI software provider posted preliminary financial results that fell well short of the company's own expectations. C3.ai said it expects to report revenue of $70.2 million to $70.4 million for its fiscal 2026 first quarter, down from $87.2 million in revenue the same period a year earlier. In May, the company had guided for revenue of $100 million to $109 million. The former AI darling's stock has lost more than half its value since the year began. C3.ai shares are edging higher in premarket trading.
