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SNAPSHOT futures extend gains on weaker inflation data

March 31 (Reuters) – Futures, which track Wall Street’s main indices, extended gains on Friday after data showed that private consumption growth slowed in February, raising hopes of a softer monetary stance from the Federal government reserve supported.

A Commerce Department report showed that the index of personal consumption expenditure (PCE), the Fed’s preferred indicator of inflation, rose 0.3% on a monthly basis in February, compared with a 0.6% rise in January.

Traders bets on a 25 basis point rate hike are 55.5%, with a 44.5% chance of a pause, according to CME Group’s Fedwatch tool.

At 8:35 a.m. ET, the Dow E-minis are up 127 points, or 0.38%, the S&P 500 E-minis are up 15 points, or 0.37%, and the Nasdaq 100 E-minis are up 33.5 points, or 0. 26%.

Reporting by Amruta Khandekar and Ankika Biswas in Bengaluru Editing by Vinay Dwivedi

Our standards: The Thomson Reuters Trust Principles.

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