At 8:32 a.m. ET, Dow e-minis were up 253 points, or 0.79%, S&P 500 e-minis were up 35.5 points, or 0.92%, and Nasdaq 100 e-minis were up 100.5 points, or 0.84%. (Reporting by Amruta Khandekar; Editing by Anil D'Silva)
March 14 (Reuters) - U.S. stock index futures extended
gains on Tuesday as a moderation in February's consumer prices
kept hopes alive that the Federal Reserve would pause interest
rate hikes at its next meeting.
The Labor Department's report showed the consumer price
index (CPI) rose 0.4% in February on a monthly basis, in line
with expectations.
Traders' bets that the central bank will hold rates at the
current level at its March meeting stayed at 23%, while bets of
a 25 basis point rate hike stood at 77% earlier. All eyes are on the CPI report as the recent collapse of
Silicon Valley Bank has spurred hopes that the central bank
would soften its policy stance to avoid a broader financial
crisis.
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