US stock futures are modestly higher as Wall Street braces for February CPI data expected to show a 0.4% monthly gain and a 3.1% annual increase.

Anticipation of inflation data is influencing the Federal Reserve's stance on monetary policy, with current market expectations suggesting no interest rate cuts in the near future.

Recent CPI increases have prompted a more cautious approach from the Fed, impacting the momentum of the stock market rally led by technology stocks.

JPMorgan CEO Jamie Dimon comments on the potential of a bubble forming in the stock market, reflecting a degree of wariness among investors.

Oracle's shares climb following fiscal fourth-quarter earnings that exceeded analysts' predictions, offering a positive note amid mixed investor sentiment.

Traders show restraint with little movement in Treasury bonds, while global market indexes in Europe and Asia trend mostly lower as they too await key economic data.