Markets cautious as China data and Fed policy weigh on sentiment.

US stock futures were mostly flat after China's exports slumped 7.5% YoY in May, raising concerns about the post-pandemic recovery in the world's second-largest economy. The OECD flagged potential drags on future recovery, as inflation persists and interest-rate hikes weigh. Investors are closely monitoring whether the S&P 500 will enter a new bull market. Tesla shares climbed more than 2% following the news that the Environmental Protection Agency would exclude EV makers from the Renewable Fuels Standard.