Stock Market Today: Stocks higher as inflation worries test tech-led rally

Check back for updates throughout the trading day U.S. equity futures nudged higher Friday, while Treasury yields and the dollar held steady, as investors switched focus from big tech and the earnings season to the underlying inflation pressures that remain imbedded in the U.S. economy. Stocks ended firmly lower Thursday as those pressures, which were underscored by a stronger-than-expected economic activity report from S&P Global, weighed on the chances of an autumn Federal Reserve rate cut. S&P Global’s PMI survey for the month of May showed the strongest level of overall business activity in more than two years, but also…