US STOCKS-Futures tick higher as inflation fears fade


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    * Futures up: Dow 0.2%, S&P 0.2%, Nasdaq 0.2% 

    By Ambar Warrick
    June 11 (Reuters) - U.S. stock index futures rose on Friday
after inflation data calmed concerns over a possible long-term
spike in rising prices, with investors now turning focus to next
week's Federal Reserve meeting for more cues on monetary policy.
    The S&P 500  .SPX  had surged to a record high on Thursday
as investors scaled back expectations for early policy
tightening by the Fed, with May's consumer price data suggesting
that a recent spike in inflation was likely to be transitory.*:nL2N2NR2Q5
    Much of the price surge in May came from items such as
commodities and airfares, and it is expected to be temporary.
    With recent data also indicating weakness in the labor
market, the Fed is widely expected to maintain accommodative
policy, which is positive for stocks and other risk-driven
    S&P 500 E-minis  EScv1  were up 7.25 points, or 0.17 at
06:36 a.m. ET. Dow E-minis  1YMcv1  were up 77 points, or 0.22%,
while Nasdaq 100 E-minis  NQcv1  were up 30.25 points, or 0.22%.
    The S&P 500 and the Nasdaq  .IXIC  were set for mild weekly
gains, as a lack of major catalysts and a summer lull in trading
saw them move in a tight range.
    But weakness in major industrial stocks saw the Dow Jones
 .DJI  set for a weekly loss, amid doubts over whether President
Joe Biden's $2.3 trillion infrastructure spending plan would
come to pass.
    Stocks favored by small-time investors were set to close
higher for the week, even as a rally appeared to be running out
of steam on Thursday. Most of the so-called "meme" stocks rose
in premarket trade.*:nL3N2NT2GT

 (Reporting by Ambar Warrick in Bengaluru; Editing by Maju
 ((; +91-80-6182-2837; Reuters
Twitter: @AmbarWarrick))

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