Dow Jones futures moved higher in early trading after consumer price index, or CPI, data came in cooler than economists expected, easing concern that the Federal Reserve will need to keep raising interest rates aggressively. The latest reporting month showed a slower increase in headline inflation, while core inflation (excluding food and energy) also moderated, extending the cooling trend to a third consecutive month. Investors responded by raising bets that the Federal Open Market Committee, or FOMC (the Fed's rate-setting panel), will hold rates steady at its next meeting, with some futures traders also pricing in possible cuts by early next year. Nasdaq 100 futures climbed more than 1%, S&P 500 futures gained about 0.8%, and Dow Jones futures rose roughly 200 points, or 0.6%. Treasury yields fell, especially at the short end, while rate-sensitive areas such as technology, growth stocks, real estate and utilities outperformed. Financial shares were mixed because lower rates can narrow banks' net interest margins, and energy futures edged lower alongside crude oil prices, which have also helped slow inflation. The report offers relief for households, businesses and markets, but policymakers have said they want sustained evidence of disinflation before changing course. Strategists say the next jobs report, the next CPI release and future Fed communication will be key tests of whether the market's cautious optimism is justified.