Futures Rally on Tariff Rollback, Eyeing CPI; Pharma Slides on Drug-Price Order

U.S. stock futures surged after Washington and Beijing agreed to substantially lower mutual tariffs—buoying risk assets—while traders brace for this week's April Consumer Price Index and digest President Trump's executive order on drug pricing.

1. Futures Jump on U.S.-China Tariff Breakthrough

By 04:37 ET (08:37 GMT) on Monday:

• Dow Futures: +785 pts (+1.9%)

• S&P 500 Futures: +142 pts (+2.5%)

• Nasdaq 100 Futures: +689 pts (+3.4%)

After a muted Friday and high-stakes trade talks in Switzerland, Monday's announcement of a 90-day tariff truce sparked a rotation into equities—especially cyclicals and technology.

2. Details of the 90-Day Tariff Truce

• U.S. Levies on China: Slashed from 145% to 30%

• China's Duties on U.S.: Cut from 125% to 10%

• Temporary Pause: No new tariffs while working-level consultations continue

Treasury Secretary Scott Bessent emphasized that “neither side wanted a decoupling,” reinforcing hopes that global growth fears may ease.

3. CPI in Focus This Week

All eyes turn to April's Consumer Price Index, due Wednesday, to gauge whether tariffs are rekindling inflation. Economists forecast a 2.4% year-over-year rise, matching March's reading.

Stay on top of exact release timings and consensus estimates with the Economics Calendar API.

4. Pharma Stocks Tumble on Drug-Price Order

President Trump's “most-favored-nation” order aims to cut U.S. drug prices by 30%-80%, aligning them with the lowest global rates. While U.S. innovators ultimately recovered, European and Asian names showed renewed volatility:

• Novo Nordisk (NVO): -1% at open

• Eli Lilly (LLY): Flat after early declines

• Bristol-Myers (BMY), Pfizer (PFE), Merck (MRK): +2%-4% post-open

To track how analyst recommendations shift in response, use the Bulk Ratings API for real-time upgrades and downgrades across the pharma universe:
Monitor Live Pharma Rating Changes

What to Watch Next

1. Tariff Implementation: Look for detailed timelines and sector carve-outs in upcoming U.S.-China discussions.

2. CPI Surprise Risk: A hotter reading could temper equity gains and lift bond yields.

3. Pharma Legal Pushback: Lawsuits may delay order effects, creating trading opportunities amid volatility.

By combining real-time trade policy updates with precise economic-calendar alerts and rating feeds, investors can navigate this week's pivotal catalysts.