5 Things to Know Before the Stock Market Opens

U.S. stock futures are pointing lower after indexes rose for a third consecutive session Tuesday; the U.S. and China agree on a framework for a trade truce; inflation is expected to have ticked higher in May when that data is released at 8:30 a.m. ET; Tesla (TSLA) shares are rising in premarket trading as CEO Elon Musk lays out a timeline for the EV maker’s robotaxi launch and says he regrets some of his posts critical of President Donald Trump; and Alphabet’s (GOOGL) Google announces it is offering buyouts to U.S. employees across the company. Here’s what investors need to know today.

1. US Stock Futures Point Lower

U.S. stock futures are pointing lower as investors digested the latest trade developments and prepare for key inflation data later today. Dow Jones Industrial Average futures are down 0.4% after major market indexes turned positive for a third straight session on Tuesday. Nasdaq and S&P 500 futures are similarly lower after each index rose 0.6% yesterday. Bitcoin (BTCUSD) is little changed at more than $109,000. The 10-year Treasury note yield and oil and gold futures are higher.

2. US, China Agree on Framework for Trade Truce

U.S. and Chinese negotiators agreed on a framework to implement the trade deal they struck in Geneva last month that would have seen both sides bring down sky-high tariffs, according to news reports. The deal comes after two days of talks and still needs the approval of U.S. President Donald Trump and China’s President Xi Jinping. “The two largest economies in the world have reached a handshake for a framework,” U.S. Commerce Secretary Howard Lutnick said, according to The Wall Street Journal. Lutnick didn’t disclose details but noted that Beijing’s restrictions on rare-earth exports would “absolutely” be resolved within the new framework.

3. Inflation Expected to Have Ticked Higher in May Amid Tariff Impacts

Inflation is expected to have ticked higher in May when the Consumer Price Index (CPI) is released at 8:30 a.m. ET today. Economists surveyed by Dow Jones Newswires and The Wall Street Journal expect CPI to come in at an annual rate of 2.4%, up from 2.3% in April, while “core” inflation is expected to have risen to 2.9% from 2.8% in April, showing the impact of President Trump’s tariffs imposed earlier in the year.

4. Musk Says He Regrets Trump Posts, Says Tesla Robotaxi Service to Begin June 22

Tesla (TSLA) shares are rising 2% in premarket trading after CEO Elon Musk laid out a timeline to launch the company’s robotaxi service and walked back some posts critical of President Donald Trump. Musk indicated the Austin, Texas, rollout of Tesla’s robotaxi service could come as early as June 22. “We are being super paranoid about safety, so the date could shift,” Musk wrote on his X platform. Musk also wrote that some of his posts last week about Trump went “too far.” Tesla shares have risen this week after dropping during last week’s spat with the president.

5. Google Offering Buyouts to US Employees

Alphabet’s (GOOGL) Google is offering buyouts to U.S. employees across multiple divisions within the company, including its search division. The company’s knowledge and information division announced its “voluntary exit program” Tuesday, the company told Investopedia. Buyouts have also been offered to the tech titan’s central engineering teams, the company confirmed. “Earlier this year, some of our teams introduced a voluntary exit program with severance for U.S.-based Googlers, and several more are now offering the program to support our important work ahead,” Google spokesperson Courtenay Mencini said. Alphabet shares, which entered Wednesday down nearly 6% this year, are little changed in premarket trading.

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