off-the-wire

Futures rise after softer CPI boosts rate-cut bets

Kitco Media
By Reuters
Published:
Updated:
Reuters
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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

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