"Inflation Data Sparks S&P and Nasdaq Futures Surge; Applied Materials Soars"

Futures for the S&P 500 and Nasdaq rose ahead of the producer inflation report, with Applied Materials surging after an optimistic revenue forecast. Investor optimism for potential interest rate cuts was buoyed by January's U.S. retail sales slump, despite a recent hotter-than-expected consumer prices report. The tech-heavy Nasdaq is poised to end a five-week winning streak, while the S&P 500 also lost momentum after a strong start to the year. The producer prices index for January is expected to shape the outlook for the Fed's monetary policy path, with traders' expectations leaning towards a start to the easing cycle in June.