May 10 (Reuters) - U.S. stock index futures turned
positive on Wednesday after data showed U.S. consumer prices
rose at a slower-than-expected pace last month, evidence that
the Federal Reserve was succeeding in its fight against
inflation.
The Labor Department's Consumer Price Index (CPI) rose 4.9%
year-over-year in April, against expectations of a 5% increase.
The odds favoring a pause in rate hikes in June sharply
increased after the data.
At 8:31 a.m. ET, Dow e-minis were up 78 points, or
0.23%, S&P 500 e-minis were up 14.75 points, or 0.36%,
and Nasdaq 100 e-minis were up 63.25 points, or 0.48%.
Moments before the data, Dow e-minis were down 56
points, or 0.17%, S&P 500 e-minis were down 4.5 points,
or 0.11%, and Nasdaq 100 e-minis were down 4.25 points,
or 0.03%.
(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Savio
D'Souza)
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