U.S. stock index futures rose on Friday at the end of a week packed with data that pointed to a moderation in economic growth, bolstering hopes of a pause in interest rate hikes, while shares of Tesla gained in the early-hour trading.

Both consumer and producer prices cooled a bit, while weekly jobless claims posted their sharpest rise in 1-1/2-years. Data on consumer sentiment and import prices are due later in the day.

The University of Michigan's preliminary reading on the overall index of consumer sentiment is expected to come in at 63.0 this month, down from 63.5 in April.

"While the results of the latest inflation gauges are open to interpretation, the move south rather than north in the inflation rate supports the case for a June pause by the FOMC at the very least," said Tim Waterer, chief market analyst at KCM Trade.

Tesla Inc shares rose 1.4% in premarket trading, top gainer among its growth peers. Tesla boss Elon Musk said on Thursday he has found a new chief executive for Twitter.

Separately, the EV maker also hiked the U.S. prices of its Model S, X, and Y vehicles by low single-digit percentages.

Regional bank stocks steadied after the KBW Regional Banking index ended its fourth straight session lower on Thursday, amid concerns over the sector's health in the aftermath of the collapse of three regional lenders.

PacWest Bancorp, Zions Bancorp, KeyCorp and Western Alliance Bancorp all rose between 0.9% and 4.5%.

At 5:20 a.m. ET, Dow e-minis were up 144 points, or 0.43%, S&P 500 e-minis were up 18.25 points, or 0.44%, and Nasdaq 100 e-minis were up 40 points, or 0.3%.

Markets will also be watching for any signs of a breakthrough in raising the U.S. government's $31.4 trillion debt ceiling to avoid a catastrophic default.

A meeting between President Joe Biden and top lawmakers that was scheduled for Friday has been postponed, and the leaders agreed to meet early next week.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty)