U.S. stock index futures rose on Friday after inflation data calmed concerns over a possible long-term spike in rising prices, with investors now turning focus to next week’s Federal Reserve meeting for more cues on monetary policy. The S&P 500 had surged to a record high on Thursday as investors scaled back expectations for early policy tightening by the Fed, with May’s consumer price data suggesting that a recent spike in inflation was likely to be transitory. With recent data also indicating weakness in the labor market, the Fed is widely expected to maintain accommodative policy, which is positive for stocks and other risk-driven assets.
