U.S. stock futures moved higher after data showed U.S. consumer prices rose moderately in January but underlying inflation remained benign as the COVID-19 pandemic continues to be a drag on the labor market and services industry. President Joe Biden on Tuesday agreed to a proposal by Democratic lawmakers to limit or phase out stimulus payments to higher-income individuals as part of his administration's $1.9 trillion coronavirus relief bill. Fourth-quarter earnings have also exceeded expectations, easing concerns over high valuations.
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