U.S. stock futures pointed to a mixed opening on Friday as investors weighed fresh inflation data and recalculated the chances of a Federal Reserve rate cut later in the year.

The latest numbers have kept traders focused on whether price pressures are easing enough to give policymakers room to lower borrowing costs. That uncertainty has left markets balancing expectations for easier policy against the risk that inflation stays sticky.

Across major indexes, futures moved unevenly, reflecting a cautious mood after a volatile stretch in equities. Investors are also watching incoming economic releases for clues about the Fed’s next move and whether recent gains in the market can hold.

For now, the tone remains measured. Traders appear willing to bet on eventual rate relief, but they are not fully convinced that the central bank will move quickly unless the data show a clearer slowdown in inflation.