#CPI&JoblessClaimsWatch CPI INFLATION DIVES AS TRUMP TARIFFS SINK TRAVEL; S&P 500 FALLS SHARPLY

The core consumer price index came in much cooler than expected in March, easing to a four-year low, while initial claims for jobless benefits rose less than expected last week. After the CPI data, S&P 500 futures remained sharply lower following yesterday's explosive rally.

With President Trump's 90-day reprieve on reciprocal tariffs above 10% — except for China — markets pulled back from the brink of instability. Now the focus turns to the impact of still-significant Trump tariffs on inflation, the labor market and the outlook for Federal Reserve interest-rate cuts, as well as Trump's deals with key trading partners over the next 90 days.

Inflation for new vehicles is expected to rev up, which should boost the price of used vehicles, vehicle maintenance and auto insurance.