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Futures firm ahead of key inflation report

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By Medha Singh (Reuters) – U.S. stock index futures rose on Friday as focus turned to a closely watched inflation report after recent worries about a spike in prices put the S&P 500 on course for its smallest monthly gain since February. The reading on the core personal consumption expenditures (PCE) index, scheduled for release at 8:30 a.m. ET, is expected to have risen 0.6% in April after a 0.4% increase in March. The Federal Reserve’s preferred inflation measure, the report could give credence to fears of an overheating economy and prompt the central bank to reconsider its accommodative mon…

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