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Futures down: Dow 0.23%, S&P 500 0.45%, Nasdaq 0.54%

May 13 (Reuters) - U.S. stock index futures were down on

Tuesday, pulling back after a sharp rally fueled by a U.S.-China

trade truce, as investors turned their focus to a key U.S.

inflation reading that could shape the outlook for monetary

policy.

April consumer price inflation (CPI) is due at 8:30 a.m. ET,

with economists polled by Reuters expecting a 0.3% monthly rise

and an annual rate holding steady at 2.4%.

"Today's inflation data is highly anticipated, as higher

figures could further diminish the outlook for additional rate

cuts - potentially leading to no cuts at all by 2025," said

Jochen Stanzl, chief market analyst at CMC Markets.

Traders currently see at least two 25-basis-point rate

reduction by the year-end, with the first cut expected in

September, according to data compiled by LSEG.

A number of Federal Reserve officials are slated to speak

this week, including Chair Jerome Powell on Thursday.

All three main U.S. indexes closed sharply higher on Monday,

with the S&P 500 notching its highest closing level since

March 5, as a relief rally ensued after the U.S. and China

agreed to temporarily slash harsh reciprocal tariffs and

cooperate to avoid rupturing the global economy.

The U.S. will cut extra tariffs it imposed on Chinese

imports to 30% from 145% for the next three months, while

Chinese duties on U.S. imports will fall to 10% from 125%.

A White House executive order said that the U.S. will cut

the low value "de minimis" tariff on China shipments.

Following the tariff truce, Goldman Sachs became the first

major brokerage to lower its probability of a U.S. recession.

All three major indexes have recouped their losses since

April 2 - dubbed "Liberation Day" - when U.S. President Donald

Trump announced reciprocal tariffs on almost all trading

partners.

A 90-day pause announced on April 9 for countries other than

China, along with solid earnings reports and a limited U.S.-UK

trade agreement last week, have helped the S&P 500 and

tech-heavy Nasdaq regain lost ground.

Still, the S&P 500 remains nearly 5% below its February

record high.

At 05:02 a.m. ET, Dow E-minis were down 97 points,

or 0.23%, S&P 500 E-minis were down 26.25 points, or

0.45%, and Nasdaq 100 E-minis were down 113.75 points,

or 0.54%.

Most megacap and growth stocks inched lower after rallying

in the previous session, with Tesla and Nvidia ( NVDA )

down about 1% each in premarket trading.

Among the early movers were crypto exchange operator

Coinbase Global ( COIN ), which jumped 9.3% after being slated

to join the S&P 500 on May 19.

The earnings season is winding down, and more than 90% of

S&P 500 companies have reported, while results from retail giant

Walmart ( WMT ) are due later this week.

Investors now await cues of a potential trade deal from

Trump's four-day visit to the Gulf region, with the president

arriving in Saudi Arabia on Tuesday.