Dec 18 (Reuters) – U.S. stock index futures extended their gains on Thursday, as a softer-than-anticipated inflation report reinforced market expectations of future interest rate cuts by the Federal Reserve.
A Labor Department report showed the Consumer Price Index (CPI) rose 2.7% on an annual basis in November, compared with an estimated 3.1% rise, according to economists polled by Reuters.
The core figure, which excludes volatile food and energy components, came in at 2.6% on an annual basis, versus an estimated 3% increase.
Separately, a report showed jobless claims were 224,000 for the week ended December 13, versus an estimate of 225,000.
At 08:31 a.m. ET, Dow E-minis were up 181 points, or 0.38%, S&P 500 E-minis were up 41.25 points, or 0.61% and Nasdaq 100 E-minis were up 268.5 points, or 1.09%.
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Tasim Zahid)
Comments