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U.S. Stock Futures Remain Virtually Unaffected, Trade Negotiations with China and Inflation Data in Focus

June 9, 2025 OnEquity

U.S. stock index futures showed little movement early Monday, with investors adopting a cautious stance ahead of renewed trade negotiations between Washington and Beijing, as well as closely watched inflation figures due later in the week.

As of 04:45 ET (08:45 GMT), Dow Jones Futures edged up 13 points, or 0.1%, while S&P 500 Futures remained nearly flat. Nasdaq 100 Futures dipped 24 points, or 0.1%.

Wall Street closed higher on Friday, lifted by a stronger-than-expected May jobs report and President Donald Trump’s announcement of a high-level U.S.-China meeting scheduled for Monday in London. The S&P 500 closed above the 6,000 mark for the first time since February 21.

However, investor sentiment remains fragile amid growing civil unrest in Los Angeles, where the National Guard was deployed over the weekend in response to widespread protests against President Trump’s immigration policies.

U.S.-China Trade Talks Resume

Top U.S. officials are meeting their Chinese counterparts in London in a fresh attempt to resolve the prolonged trade dispute between the world’s two largest economies.

U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer are expected to participate in discussions, as confirmed by President Trump last week.

China’s Foreign Ministry also stated that Vice Premier He Lifeng, the country’s chief trade negotiator, will be in the U.K. this week for talks.

Despite a preliminary agreement reached last month in Geneva—which included a temporary freeze on further tariffs—tensions persist, especially around:

  • Trump’s threatened tariff hikes
  • China’s control over rare earth mineral exports
  • Washington’s proposed “reciprocal” tariffs (currently on hold until August 12)

Meanwhile, fresh data released Monday revealed that China’s export growth slowed to a three-month low in May, as the impact of U.S. tariffs continued to weigh on outbound shipments.

Inflation Data in Focus

Investors are also closely watching upcoming U.S. inflation data for insights into the health of the economy. The Consumer Price Index (CPI) report is due Wednesday, followed by Producer Price Index (PPI) data on Friday.

Analysts expect a modest rise in inflation in May, with forecasts for annual CPI to increase to 2.5%, up from 2.3% in April. Key contributing factors include:

  • Elevated electricity costs
  • Ongoing import tariffs

These reports are expected to shed light on the broader impact of recent trade policies and may influence Federal Reserve policy decisions going forward.

Apple’s Developer Conference in the Spotlight

On the corporate calendar, Apple Inc. (AAPL) is set to kick off its annual Worldwide Developers Conference (WWDC) later Monday. The event will be closely watched for indications of the company’s strategic direction amid a decline in its share price.

According to Bloomberg News, Apple may unveil:

  • A new year-based naming format for its iOS operating system
  • The anticipated iOS 26 update, rumored to include
    • Significant design overhauls
    • Enhancements to its AI-driven Apple Intelligence platform

Concrete details, however, remain limited.

Oil Prices Hold Gains on Trade Optimism

Crude prices remained steady early Monday, holding on to last week’s gains as markets awaited developments from the trade talks in London.

As of 04:45 ET, Brent crude rose 0.2% to $66.58 per barrel, while WTI futures also gained 0.2%, reaching $64.70 per barrel.

Hopes for a breakthrough in the U.S.-China trade dispute have supported oil prices amid expectations of stronger global growth and energy demand.

Last week:

WTI surged over 6%—marking their first weekly gain in three weeks

Brent climbed 4%

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