March 13 (Reuters) – U.S. stock index futures extended gains slightly on Friday as investors assessed data on inflation and economic growth for cues on the Federal Reserve’s policy path. The Personal Consumption Expenditure index, the Federal Reserve’s preferred inflation gauge, rose 0.3% in January, on a monthly basis, in line with economists’ estimates of […]
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Wall St futures extend gains marginally after economic data
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March 13 (Reuters) – U.S. stock index futures extended gains slightly on Friday as investors assessed data on inflation and economic growth for cues on the Federal Reserve’s policy path.
The Personal Consumption Expenditure index, the Federal Reserve’s preferred inflation gauge, rose 0.3% in January, on a monthly basis, in line with economists’ estimates of a 0.3% rise. On an annual basis, it rose 2.8% versus expectations of a 2.9% rise.
Core PCE, which excludes the volatile food and energy components, rose 0.4% on a monthly basis, in line with economists’ forecasts of a 0.4% rise.
Meanwhile, the Commerce Department’s second estimate showed gross domestic product (GDP) increased by 0.7% in the previous quarter, compared with 1.4% growth expected by economists polled by Reuters.
At 8:31 a.m. ET, Dow E-minis were up 201 points, or 0.43%, Nasdaq 100 E-minis were up 102.25 points, or 0.42%, and S&P 500 E-minis were up 29.75 points, or 0.44%.
(Reporting by Utkarsh Tushar Hathi; Editing by Devika Syamnath)