US-China trade truce euphoria is giving way to worry over economic slowdown in the wait for the latest US consumer inflation report

U.S. stock index futures moved higher on Tuesday after a lower-than-expected inflation report boosted expectations that the Federal Reserve was on track to lower borrowing costs this year. A Labor Department report showed April consumer price inflation rose 0.

US stock futures surged even higher on Monday after the US and China said they have agreed to slash most tariffs for 90 days while further trade talks take place. Stocks were already making gains over after the US said it had made "substantial progress" in weekend trade talks with China,

Stock market futures in the U.S. surged on Monday as the U.S. and China agreed to temporarily de-escalate their trade war.

Wall Street opened higher on Monday after the US agreed to cut tariffs on Chinese goods to 30%, with China reducing its levies to 10%.