US stock futures wavered as Wall Street digested the progress on US-China trade negotiations, a fresh legal ruling on President Trump tariffs, and braced for the release of the May inflation report.

Futures on Wall Street are sulking this morning despite both US and China reaching a broad consensus to implement the Geneva trade agreement that both countries had arrived on last month. The Dow futures are down 110 points,

In addition to inflation and US-China trade, a key bond auction is on investors' radar. A $22 billion sale of 30-year bonds is scheduled for Thursday.

Wall Street investors closely monitoring trade discussions between the US and China drove stocks higher as Commerce Secretary Howard Lutnick said negotiations went really, really well. Treasuries and the dollar saw small moves ahead of a key inflation report.

This week will bring consumer-price index and producer-price index data from May, providing new readings on inflation and how prices have changed as a result of tariff policies. Meanwhile, Apple is hosting its annual Worldwide Developers Conference,

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The United States is looking to restore the flow of “crucial” rare earth minerals, which were restricted after China’s retaliatory efforts in early April.

Prolonged economic challenges tend to generate their own terminology. When the US struggled with low growth and below-target inflation in the years after the 2008 crisis, the oft-used phrase was “secular stagnation.

Inflation in the U.S. has been surprisingly tame despite the ongoing trade wars, but economists widely expect some increase. Just how much - and for how long - well, there's far less agreement about that.