off-the-wire

Futures jump after inflation data lifts rate-cut hopes

Kitco Media
By Reuters
Published:
Updated:
Reuters
Futures jump after inflation data lifts rate-cut hopes teaser image

July 11 (Reuters) - U.S. stock index futures turned positive on Thursday after consumer price inflation eased more than expected in June, bolstering expectations for interest-rate cuts from the Federal Reserve later this year.

A Labor Department report showed the Consumer Price Index fell 0.1% on a monthly basis in June, versus the 0.1% increase forecast by economists polled by Reuters. Annually, it increased 3%, lower than the expected 3.1% rise.

The core figure, which excludes volatile food and energy components, rose 0.1% on a monthly basis, against an expectation of a 0.2% advance. Annually, it gained 3.3%, versus an estimated 3.4% increase.

At 8:32 a.m. ET, Dow e-minis were up 73 points, or 0.18%, S&P 500 e-minis were up 13.25 points, or 0.23%, and Nasdaq 100 e-minis were up 64.5 points, or 0.31%.

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