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

US stock futures are trading marginally in the red after a strong rally on Monday, marking their best single-day gain since April 9, which was the day US President Donald Trump announced a pause to his reciprocal tariff program for 90 days.

Stock futures fell in early Tuesday following a big rally, as investors look ahead to a key inflation report Tuesday morning. Futures on the Dow Jones Industrial Average inched down 108 points, or 0.25%. S&P 500 futures and Nasdaq 100 futures fell 0.4% and 0.46%, respectively.

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,

Wall Street was on track to open with losses as the initial euphoria over the 90-day truce in the U.S.-China trade war faded.

The dollar fell and U.S. stock futures rose on Tuesday after data showed U.S. consumer inflation picked up less than expected in April, when President Donald Trump unveiled a raft of tariffs that have wreaked havoc on global supply chains and markets.

Asia stock markets traded higher on Monday following substantial progress in U.S.-China trade talks on Sunday. Traders awaited further details from the negotiations, which were expected to be announced on Monday.