Dow Futures Push Aside Upbeat April CPI Data

After outsized gains across the board yesterday, stock futures are more of a mixed bag today. Dow Jones Industrial Average (DJIA) futures are down over 300 points, after UnitedHealth (UNH) pulled its 2025 guidance. Nasdaq-100 (NDX) and S&P 500 Index (SPX) futures however, have moved into the black, after April's consumer price index (CPI) of 2.3% came in below the 2.4% estimates. The core inflation rate met expectations and was unchanged from March. 

Continue reading for more on today's market, including:

• Senior V.P. of Research Todd Salamone on what to know for expiration week.
• 'The next Chipotle stock' could be ready to roar.
• Plus; quantum stock cools; Under Armour's beat-and-raise; and VLO gets upgraded.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 2.8 million call contracts and over 1.4 million put contracts exchanged on Monday, the most since April 4. The single-session equity put/call ratio fell to 0.50, while the 21-day moving average stayed at 0.59.
2. Rigetti Computing Inc (NASDAQ:RGTI) stock is down 10.9% in electronic trading, after the quantum computing company reported first-quarter revenue well below analyst estimates. Heading into today, RGTI was up 45% this quarter alone, but still nursing a 24% year-to-date deficit. 
3. Under Armour Inc (NYSE:UAA) stock is up 2.2% ahead of the open, after the athleisure retailer reported an earnings triple play for the fiscal fourth quarter. Under Armour stock is down 25% year-to-date, and will be testing its descending 100-day moving average today, should today's results hold.
4. The shares of Valero Energy Corp (NYSE:VLO) are 1.3% higher before the bell, after Goldman Sachs upgraded the oil refiner to "buy" from "hold." The analyst in coverage waxed optimistic about improving supply and demand backdrop. VLO sports a 6.5% gain for 2025. 
5. There's more than just CPI data due out this week.

Overseas Markets Struggle for Direction

Sentiment in Asia today was mixed, as investors settled from U.S.-China trade talks, which will temporarily lower reciprocal tariffs significantly. Japan’s Nikkei climbed 1.4%, logging a fourth-straight win, while China’s Shanghai Composite tacked on 0.2%, and South Korea’s Kospi finished flat. Hong Kong’s Hang Seng was the only loser, falling 1.9%.

European stocks are sitting flat at last check, as traders digest the U.K.’s unemployment rate of 4.5%, its highest level since 2021. London’s FTSE 100 is up 0.03%, Germany’s DAX is 0.02% lower, and France’s CAC 40 is 0.04% higher, at last glance.