US STOCKS SNAPSHOT-Futures extend gains after July inflation data

Aug 31 (Reuters)U.S. stock index futures extended gains on Thursday after data showed a closely-watched measure of inflation rose in line with expectations in July, keeping alive hopes for a pause in interest rate hikes from the Federal Reserve.

A Commerce Department report showed the personal consumption expenditures (PCE) price index, considered to be the Fed’s preferred inflation gauge, climbed 3.3% in July on an annual basis in line with estimates of a 3.3% rise.

Excluding volatile food and energy components, the core PCE price index rose 4.2% in July on an annual basis, also meeting expectations.

At 8:36 a.m. ET, Dow e-minis 1YMcv1 were up 183 points, or 0.52%, S&P 500 e-minis EScv1 were up 13.25 points, or 0.29%, and Nasdaq 100 e-minis NQcv1 were up 25.25 points, or 0.16%.

(Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru Editing by Vinay Dwivedi)


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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