(Reuters) – U.S. stock index futures extended gains on Wednesday as investors assessed a broadly in-line consumer inflation report to gauge its effect on the Federal Reserve’s monetary policy easing this year.
Data from the Labor Department showed the consumer price index rose 2.9% on an annual basis in December 2024, in line with the expectations of economists polled by Reuters. On a monthly basis, the index rose 0.4%.
Excluding volatile food and energy components, core CPI increased 3.2% on an annual basis, compared with an expected 3.3% rise.
At 08:32 a.m., Dow E-minis were up 476 points, or 1.11%, S&P 500 E-minis were up 66.5 points, or 1.13%, and Nasdaq 100 E-minis were up 280.25 points, or 1.34%.
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