Stock Market Today: S&P 500, Nasdaq 100 Futures Drop As Trump Says Iran Ceasefire Is On ‘L
May 12, 2026
U.S. stock futures fell on Tuesday after Monday’s higher close. This followed President Donald Trump‘s sharp criticism of Iran’s latest response to a U.S. proposal aimed at ending the conflict, saying the ceasefire is now “on life support.”
“I would call it the weakest right now,” Trump said, adding he viewed Tehran’s demands as unacceptable.
On the economic front, investors will be looking out for the crucial consumer price index scheduled to be released before the opening bell. According to FactSet, the median estimate for April CPI is 3.7% year-over-year.
Meanwhile, the 10-year Treasury bond yielded 4.43%, and the two-year bond was at 3.97%. The CME Group’s FedWatch tool‘s projections show markets pricing a 97.6% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.
| Index | Performance (+/-) |
| Dow Jones | -0.04% |
| S&P 500 | -0.38% |
| Nasdaq 100 | -0.73% |
| Russell 2000 | -0.45% |
- Gitlab Inc. (NASDAQ:GTLB) plunged 8.97% in premarket on Tuesday after it announced a reduction in workforce to realign its operating structure.
- Benzinga’s Edge Stock Rankings indicate that AEHL maintains a weak price trend in the medium and long terms but a strong trend in the short term.
- GoPro Inc. (NASDAQ:GPRO) shares jumped 5.30% as it reported better-than-expected first-quarter sales results and also announced the launch of a strategic review exploring the potential sale or merger.
- Benzinga’s Edge Stock Rankings indicate that GPRO maintains a strong price trend in the long, short, and medium terms.
- Zoominfo Technologies Inc. (NASDAQ:GTM) tumbled 32.46% despite beating estimates as cautious forward guidance influenced market sentiment.
- Benzinga’s Edge Stock Rankings indicate that GTM maintains a weak price trend in the medium and long terms but a strong trend in the short term, with a moderate growth score.
- Plug Power Inc. (NASDAQ:PLUG) advanced 5.40% after posting its first-quarter results after Monday’s closing bell, beating analyst estimates on the top and bottom lines.
- Benzinga’s Edge Stock Rankings indicate that PLUG maintains a strong price trend in the short, medium, and long terms.
- Benzinga’s Edge Stock Rankings indicate that ASTS maintains a weak price trend in the medium and short terms but a strong trend in the long term.
Materials, energy, and industrials equities posted the most significant gains on Monday, whereas communication services and consumer staples bucked the broader trend by finishing the session lower.
Lawrence Gillum anticipates significant economic shifts as the Federal Reserve likely transitions to the leadership of Kevin Warsh. Gillum expects Warsh to champion a smaller Fed balance sheet and reduced forward guidance.
While Gillum notes that U.S. debt levels are projected to soar—potentially climbing above 120% of GDP by 2027—he reassures investors that “the U.S. is not on the verge of a fiscal crisis.” Furthermore, Gillum believes “the odds of aggressive rate cuts under a Warsh chairmanship appear low.”
Regarding the stock market, Gillum warns that less Fed intervention will result in heightened volatility. He predicts that equity and credit markets could face “sharper repricing around data releases” as investors adjust to fewer explicit policy commitments.
Consequently, Gillum advises that a less accommodative central bank will force “greater price discovery in risk assets.” Summing up the unpredictability of this incoming policy regime, Gillum aptly quotes Mike Tyson: “Everyone has a plan until they get punched in the mouth.”
Here’s what investors will be keeping an eye on Tuesday.
Crude oil futures were trading higher in the early New York session by 3.05% to hover around $101.06 per barrel.
Gold Spot US Dollar fell 0.76% to hover around $4,698.85 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.31% higher at the 98.2540 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.20% higher at $80,924.53 per coin, as per the last 24 hours.
Asian markets closed lower on Tuesday, except Japan’s Nikkei 225 index. Australia’s ASX 200, India’s Nifty 50, South Korea’s Kospi, China’s CSI 300, and Hong Kong’s Hang Seng indices fell. European markets were also lower in early trade.
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