U.S. stock futures were mostly rising Thursday after a surprise cooldown in a key inflation measure appeared to boost the chances that the Federal Reserve will cut interest rates at some point this year.

The stock market's stiffest headwind, a surge in Treasury bond yields, was blown aside Wednesday by a surprisingly benign inflation report, which could rekindle bets on multiple Federal Reserve rate cuts before year-end.

The drop in yields occurred as traders resumed betting on another Fed rate cut by July. Traders ignored the strong December employment data released Friday, which sparked a surge toward the highest levels in months as it sowed doubts that policymakers would cut rates at all this year.