<h1>Wall Street futures rise on hopes Fed will cut rates after US inflation data, S&P 500 hits record highs</h1> Wall Street futures rose ahead of opening, driven by optimism that recent US inflation data will prompt the Federal Reserve to reduce interest rates next month. The S&P 500 and Nasdaq closed at record highs amid hopes that lower borrowing costs will stimulate economic growth. The Federal Reserve remains cautious due to concerns over tariffs potentially fueling inflation. Ahead of the September meeting, further inflation and employment reports are awaited. In corporate developments, a major apparel company agreed to acquire another for $2.2 billion, impacting share prices. Separately, a restaurant chain's shares dropped significantly after reporting weaker sales and lowering guidance. Asian and European markets also showed gains, influenced by trade policies and central bank actions, including a rate cut by the Bank of Thailand. Energy prices declined slightly, and currency fluctuations were noted with the US dollar weakening against the yen and euro.