"Inflation Test Looms, Futures Tepid"

US stock index futures turned negative after the Consumer Price Index (CPI) for March showed a stronger-than-expected increase, dampening expectations for Federal Reserve interest-rate cuts. The CPI rose 0.4% on a monthly basis and 3.5% annually, exceeding economists' estimates. Excluding food and energy, the core CPI also surpassed expectations, leading to Dow e-minis down 0.84%, S&P 500 e-minis down 0.99%, and Nasdaq 100 e-minis down 1.28%.