Stock Futures Rise Ahead of Key Inflation Data, Dow Jones Rallies on Strong Economic Signs

Stock futures rose ahead of the release of key inflation data, with investors awaiting an update on the Federal Reserve's preferred inflation gauge. The need to cool price pressures remains a priority for policymakers. The May reading on personal consumption expenditures (PCE) is in focus, following a surprise upward revision to first-quarter GDP that showed the US economy is stronger than expected. The resilience of the economy has driven the stock market rally, although it also suggests that interest rates will stay higher for longer. All three major stock benchmarks are on track to record strong performances for the second quarter and first half of the year.