US stock indexes opened slightly higher on Friday as investors waited for a fresh reading on inflation that could influence the Federal Reserve’s next policy moves. The market was largely cautious ahead of the personal consumption expenditures price index, the central bank’s preferred measure of price pressures.

The muted gains reflected a familiar mix of anticipation and restraint, with traders avoiding big bets before the data release. PCE figures are closely watched because they help shape expectations for interest rates, borrowing costs, and broader market direction.

Wall Street has been sensitive to any sign that inflation is cooling too slowly, since that could keep the Fed from easing policy quickly. At the same time, softer readings could support hopes for lower rates later in the year and give equities more room to climb.

Friday’s early tone suggested investors were waiting for confirmation rather than making aggressive moves. Once the inflation report is published, market attention is likely to shift toward what it means for the Fed’s path and whether stocks can build on their modest advance.