U.S. stocks opened slightly higher on Friday as investors positioned for fresh inflation data that could influence the Federal Reserve’s next interest-rate decision. The move was cautious, with traders watching whether price pressures are cooling enough to keep policy on a more gradual path.

Market participants have been weighing recent signs of economic resilience against the risk that inflation remains sticky. That balance has kept trading restrained, as any surprise in the upcoming data could quickly reset expectations for borrowing costs and corporate earnings.

The session reflected a familiar pattern on Wall Street: modest gains, limited conviction, and a market waiting for a catalyst. With inflation still central to the Fed’s policy calculus, the next readings are likely to shape sentiment across stocks, bonds, and currencies.

Investors will be looking closely at whether the report supports hopes for easier financial conditions later this year, or reinforces the case for a longer period of restrictive policy. Until then, markets appear to be in a holding pattern.