US stock futures are indicating a positive start as the Federal Reserve's preferred inflation measure, the Personal Consumption Expenditure (PCE) index, showed a cooling trend, coming in at 2.2% in August, which was lower than market expectations. This decline in inflationary pressures has opened the door for potential further interest rate cuts by the Fed. However, investors remain cautious as they await the impending PCE data that could influence market direction. Analysts suggest that today's inflation report will be critical, as it might sway opinions on the likelihood of a significant rate cut in the upcoming November FOMC meeting. With consumer spending data also on the horizon, traders are keeping a close eye on the markets as they navigate through a week filled with economic indicators, including GDP, PMIs, and Fed commentary.