Stock futures are little changed after S&P 500 ends three-day win streak: Live updates
Traders wait for Voyager Technologies to begin trading during the company's IPO at the New York Stock Exchange (NYSE) in New York City, U.S., June 11, 2025.
Brendan McDermid | Reuters
Stock futures were relatively unchanged on Wednesday after the S&P 500 saw its first negative session in four.
S&P 500 futures traded down by 0.1%, along with Nasdaq 100 futures . Futures tied to the Dow Jones Industrial Average dropped 44 points, or 0.1%.
In extended trading, shares of Oracle surged more than 7% after its fiscal fourth-quarter results beat on the top and bottom lines. The company also indicated more cloud growth ahead, saying in a statement that cloud infrastructure revenue will rise by more than 70% in fiscal 2026, up from a 50% growth rate in the prior fiscal year.
Wednesday marked a losing session on Wall Street, with the S&P 500 snapping its three-day win streak, as did the Nasdaq Composite . But the moves were slight. The broad market index fell about 0.3%, while tech-heavy Nasdaq dropped 0.5%. The Dow Jones Industrial Average was flat. While the day's losses put the S&P 500 a bit further away from reaching a new record high, the index is also still just more than 2% below its late February record.
Those moves come after consumer prices rose less than expected in May, as the consumer price index increased 0.1% for the month. That's less than the Dow Jones forecast for 0.2%. Core CPI, which excludes food and energy prices, also increased less than expected.
"I don't think the market has a lot of faith that we're not going to see at least a little bit higher inflation," Scott Wren, senior global market strategist at Wells Fargo, told CNBC's "Closing Bell" Wednesday. "With all the things going on, the economy slowing, earnings growth likely to slow, lots of trade negotiations to still work through, is there really a good reason to take a run at the record high? I don't know about that. It makes a lot of sense to me that we'd be choppy and maybe see a little downside here."
Investors are now looking ahead to May's reading of the producer price index, due out at 8:30 a.m. ET on Thursday. Economists polled by Dow Jones are expecting the index to show a gain of 0.2% for the period. Subtracting out food and energy, core PPI is expected to show growth of 0.3% on the month.
The Street is also waiting for more developments on trade, especially between the U.S. and China, as talks between the two countries have been a focal point this week. While officials reached an agreement in London, the deal still awaits approval from U.S. President Donald Trump and Chinese President Xi Jinping.
Trump said in a post on Truth Social earlier Wednesday that "WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%." However, Commerce Secretary Howard Lutnick later said that U.S. levies on goods from China won't change from their current levels.
Rising tensions between the U.S. and Iran will also be in focus. U.S. crude oil futures jumped more than 4% on Wednesday after Trump expressed doubt that the two countries could reach a nuclear deal.
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Celldex Presents Unprecedented 76 Week Results from Barzolvolimab Phase 2 Study in Chronic Spontaneous Urticaria at EAACI Congress 2025
Seven months after the completion of dosing: 41% of patients (150 mg Q4W) continue to experience complete response (UAS7=0) 48% of patients (150 mg Q4W) report that CSU no longer impacts their quality of life (DLQI=0/1) KIT related tolerability events demonstrated to be reversible Enrollment to Phase 3 CSU trials ongoing Company to host webcast today at 6:00 pm ET HAMPTON, N.J., June 12, 2025 (GLOBE NEWSWIRE) -- Celldex (NASDAQ:CLDX) announced today new data demonstrating profound, sustained complete response and improved quality of life at 76 weeks, 7 months after the completion of dosing with barzolvolimab in chronic spontaneous urticaria (CSU), an immune-related condition driven by mast cell activation. Barzolvolimab specifically targets mast cells by binding the receptor tyrosine kinase KIT with high specificity and potently inhibiting its activity, which is required for mast cell function and survival. 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Importantly, across this large, 76 week Phase 2 trial, barzolvolimab also presented a favorable safety profile, further supporting barzolvolimab's significant potential to become a transformative treatment option for patients suffering from this often very severe and debilitating disease.' Data highlights at 76 weeks (7 months/28 weeks after completion of barzolvolimab treatment) Rapid, profound improvements in UAS7 (weekly urticaria activity score) were reported as early as one week after dosing. Barzolvolimab achieved the primary efficacy endpoint, a statistically significant mean change from baseline to Week 12 in UAS7 (weekly urticaria activity score) compared to placebo, at all dose levels. These improvements were sustained or deepened at Week 52 and continued to Week 76. UAS7 mean change from baseline at Week 76 was -20.42 for patients treated with 150 mg Q4W and -21.10 for patients treated with 300 mg Q8W. 41% of patients treated with barzolvolimab 150 mg Q4W and 35% of patients treated with 300 mg Q8W had a complete response (no itch/hives; UAS7=0) at Week 76. 56% of patients treated with barzolvolimab 150 mg Q4W and 47% of patients treated with 300 mg Q8W had well controlled disease (UAS7≤6) at Week 76. 48% of patients treated with barzolvolimab 150 mg Q4W and 40% of patients treated with 300 mg Q8W reported that CSU had no impact on their quality of life at 76 weeks as measured by the Dermatology Life Quality Index (DLQI). Current clinical guidelines recommend complete response (UAS7=0) as the goal of treatment1 and achieving complete response is directly correlated to the greatest improvements in quality of life for patients2. These robust responses and improvements in quality of life were observed regardless of prior omalizumab experience. 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Young, M.D., Senior Vice President and Chief Medical Officer of Celldex. 'On behalf of Celldex, I want to thank the patients and physicians who participated in this study. We remain diligently focused on executing across our clinical trials to bring this potential important new medicine to patients.' Results presented at the EAACI Congress 2025 are available on the "Publications' page of the "Science" section of the Celldex website. 1Zuberbier T, et al. Allergy, 2022; 2Kolkhir P, et al. JACI, 2023 Webcast The Company will host a conference call/webcast today to discuss the results at 6:00 pm ET. To access the live and archived webcast, please visit the Events section on the Investor Relations page of Celldex's website. Parties interested in participating via telephone may register here to receive the dial-in numbers and unique PIN to seamlessly access the call. Otherwise please access the listen-only webcast link. 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About the Phase 2 CSU StudyThe randomized, double-blind, placebo-controlled, parallel group Phase 2 study evaluated the efficacy and safety profile of multiple dose regimens of barzolvolimab in patients with CSU who remain symptomatic despite antihistamine therapy, to determine the optimal dosing strategy. 208 patients were randomly assigned on a 1:1:1:1 ratio to receive subcutaneous injections of barzolvolimab at 75 mg every 4 weeks, 150 mg every 4 weeks, 300 mg every 8 weeks or placebo during a 16-week placebo-controlled treatment period. After 16 weeks, patients then entered a 36-week active treatment period, in which patients receiving placebo or the 75 mg dose were randomized to receive barzolvolimab 150 mg every 4 weeks or 300 mg every 8 weeks; patients already randomized to the 150 mg and 300 mg treatment arms remained on the same regimen as during the placebo-controlled treatment period. After 52 weeks, patients enter a follow-up period for an additional 24 weeks. 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