U.S. stock index futures were lower on Tuesday after a spirited rally sparked by Washington's temporary trade truce with China subsided and investors shifted focus to a crucial U.S. inflation report that will likely shape the monetary policy path.

April consumer price inflation data is due to be released at 8:30 a.m. ET, with economists polled by Reuters expecting a 0.3% monthly rise and the annual rate holding steady at 2.4%.

Market Snapshot

At 8:08 a.m. ET, Futures on the Dow Jones Industrial Average dipped 262 points, or 0.6%, weighed by a 10% decline in UnitedHealth after the company suspended its 2025 outlook. S&P 500 futures fell 0.2% and Nasdaq-100 futures fell 0.1%.

Pre-Market Movers

UnitedHealth was falling 10% as the health insurer named Stephen J. Hemsley as its CEO, following Andrew Witty's decision to step down as chief executive for personal reasons, and as the company suspended its 2025 outlook. The company said "care activity continued to accelerate while also broadening to more types of benefit offerings than seen in the first quarter, and the medical costs of many Medicare Advantage beneficiaries new to UnitedHealthcare remained higher than expected."

UnitedHealth's peers also were trading lower. CVS Health was down 3.3%, Elevance Health declined 5.3%, and Humana fell 3.2%.

Amazon.com was up 0.5% in premarket trading, Meta Platforms, Inc. up 0.6%, Apple declined 0.2%, and NVIDIA was up 0.7% after the Magnificent Seven stocks collectively added $830.9 billion in market cap in Monday's risk-on rally, the second-largest one-day market cap gain for the group on record, according to Dow Jones Market Data. Amazon.com finished Monday's session up 8.1%, Meta gained 7.9%, Apple, which makes most of its iPhones in China, rose 6.3%, and Nvidia rose 5.4%.

Tesla Motors was up 0.3% after closing with a gain of 6.8% on Monday. The market cap of the electric-vehicle company, which also is a member of the Magnificent Seven, on Monday moved back above $1 trillion, which hasn't happened since late February. The House Ways and Means Committee late Monday published a markup of a bill intended to be part of President Donald Trump's "One Big Beautiful Bill" that would see EV purchase tax credits eliminated by the end of 2025.

U.S.-listed shares of JD.com rose 4% even after the Chinese e-commerce company posted first-quarter earnings and revenue that rose from a year earlier. Net profit in the quarter jumped 53% to 10.89 billion yuan ($1.51 billion).

Coinbase Global, Inc. jumped 10% after it was announced the cryptocurrency trading platform would be added to the S&P 500 on May 19. Coinbase will replace Discover Financial Services, which is being acquired by Capital One Financial in a deal that is expected to close soon, according to S&P Dow Jones Indices.

Boeing rose 1.4% after a Bloomberg report said China removed a month-long ban on airlines taking delivery of the company's planes.

FedEx rose 1.2% as Amazon.com said it would be working with the logistics provider on last-mile delivery. "We've reached an agreement with FedEx to serve as one of several third-party partners to deliver packages to our customers," Amazon spokesman Steve Kelly told The Wall Street Journal. Back in January, United Parcel Service announced it would reduce volume with Amazon, its largest customer, by 50% in the second half of 2026.

Hertz Global Holdings, Inc. reported a first-quarter adjusted loss of $1.12 a share, wider than analysts' estimates that called for a loss of 98 cents, as revenue declined 13% to $1.8 billion and missed expectations of $2 billion. The stock fell 8.1%.

Rigetti Computing, the quantum-computing company, reported first-quarter revenue of $1.5 million, a decline from $3.1 million a year earlier and below analysts' forecast of $2.6 million. Rigetti's operating loss in the quarter was $21.6 million, wider than a year-earlier loss of $16.6 million. Shares dropped 11%.

On Holding AG, the running-shoe and apparel company, reported first-quarter first-quarter adjusted earnings that wer slightly below estimates, but revenue of 726.6 Swiss francs topped Wall Street forecasts. The stock rose 4.6%.

Market News

Nvidia in Focus as Trump Administration Nears Middle East AI Chip Deals: Report

NVIDIA and other semiconductor companies were in focus on Tuesday as the Trump administration edged closer to striking deals with companies in the Middle East to provide them with artificial intelligence chips, the Washington Post reported.

The agreements, which may come during President Trump's trip to the region this week, will allow United Arab Emirates-based G42 and the newly announced Humain access to AI chips, the news outlet added, citing two people familiar with the negotiations.

Humain was launched earlier this week by Prince Mohammed bin Salman bin Abdulaziz Al Saud and is owned by Saudi Arabia's sovereign wealth fund, the Public Investment Fund.

Shopee-Owner Sea Quarterly Revenue Jumps on Steady Ecommerce Demand

Southeast Asian technology firm Sea Ltd Ltd on Tuesday reported a 30% surge in first-quarter revenue, helped by steady growth across its diverse set of businesses, sending its U.S.-listed shares up 13% in premarket trading.

Purchases on Sea's e-commerce platform, Shopee — available across various Southeast Asian countries and Taiwan — jumped ahead of the summer holiday and travel season.