Wall Street Cautious Ahead of Big Week for Economic Data That Will Shape Rate Cut Outlook

• Wall Street set for subdued open ahead of crucial inflation data and other economic reports that will shape rate cut expectations • Focus is on Thursday’s PCE inflation report; signs of persistent inflation could impact bets on Fed rate cuts timing • Investors seem to be getting used to idea that Fed won't cut rates soon; hopes of a “soft landing” support market sentiment • GDP, jobless claims, manufacturing data also due this week to offer clues on rate cuts • Congressional standoff over funding, Fed speakers comments, consumer confidence data also in focus