U.S. stock-index futures moved slightly higher on Friday as investors assessed fresh economic data and continued to price in the possibility of Federal Reserve rate cuts later this year.

The modest gains suggested traders remained cautiously optimistic, even as they weighed how incoming reports could shape the central bank’s next policy moves. Expectations for easier monetary policy have helped support risk assets in recent sessions.

The advance in futures followed a day of close attention to inflation, labor, and growth signals, with market participants looking for clues about whether the Fed will be able to loosen policy without reigniting price pressures. Major indexes have remained sensitive to every shift in rate outlook.

For now, Wall Street appears focused on the same balance that has driven much of the recent market action: slowing economic momentum may strengthen the case for cuts, but any surprise in the data could quickly reset investor expectations.