May 10 (Reuters) – US stock index futures turned positive on Wednesday after data showed US consumer prices rose at a slower-than-expected rate last month, evidence the Federal Reserve has been successful in fighting inflation was.
The Labor Department’s Consumer Price Index (CPI) rose 4.9% year-on-year in April, beating expectations for a 5% rise.
The odds of a halt to rate hikes in June rose sharply after the data.
At 8:31 a.m. ET, the Dow e-minis are up 78 points, or 0.23%, the S&P 500 e-minis are up 14.75 points, or 0.36%, and the Nasdaq 100 e-minis are up 63.25 points, or 0.48%.
Just prior to the data, the Dow E-Minis fell 56 points, or 0.17%, the S&P 500 E-Minis fell 4.5 points, or 0.11%, and the Nasdaq 100 E-Minis fell 4.25 points, or 0. 03%
Reporting by Shreyashi Sanyal in Bengaluru; Edited by Anil D’Silva
Our standards: The Thomson Reuters Trust Principles.
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