U.S. stock futures were rising and bond yields were retreating on Friday. Investors have been fretting about elevated interest rates for weeks, but the past few days have boosted hopes that the Federal Reserve will be able to cut borrowing costs at some point this year.

Data Tuesday showed wholesale inflation slowing, but bigger price gains in key categories that feed into the Fed’s preferred inflation gauge contained excitement about rate cuts

US stocks gave up early gains to end mixed. Investors await key consumer inflation data and the start of earnings season on Wednesday.