Soft CPI eases Fed rate hike odds, PPI report today to confirm inflation trend and guide markets.

US stock futures rose after a softer-than-expected Consumer Price Index (CPI) report reduced the chances of a Federal Reserve rate hike in July. The market now awaits today's Producer Price Index (PPI) data, which could either confirm easing inflation or revive concerns about future interest rate increases. Strong earnings from major banks have boosted market confidence, but upcoming reports from Morgan Stanley, BlackRock, and Johnson & Johnson will test if this strength extends beyond financials. The S&P 500 is positioned for a potential breakout, but sustained gains depend on active buying and the PPI outcome, which will influence the Fed's next moves and market direction.