"US Futures Surge as S&P 500 Hits 5000: Market Update"

US stock futures rose after the S&P 500 reclaimed the 5,000 level, with investors awaiting upcoming US economic data that could impact rate expectations. Favorable earnings reports helped offset concerns from Tuesday's higher-than-expected US inflation reading. Traders have scaled back Federal Reserve rate cut bets, and the chance of a cut in March has diminished. Additionally, various corporate highlights and key events for the week were outlined.