(Reuters) -U.S. stock index futures were muted on Thursday following a strong run on Wall Street this week and investors awaited fresh economic data to gauge the Federal Reserve’s monetary policy verdict next month.

Data reflecting labor market weakness has strengthened expectations that the central bank will potentially lower interest rates next month, despite another report suggesting underlying price pressures are on the rise.

The expectations for a dovish Fed encouraged investors to lap up riskier equities, sending the benchmark S&P 500 and tech-heavy Nasdaq to record highs in the previous two sessions, and putting the blue-chip Dow within striking distance of an all-time high.

Traders are fully pricing in a 25-basis-point interest rate cut by the central bank in September, accordin

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