U.S. Market Steadies on Inflation Report
U.S. stock index futures reduced earlier losses after an inflation report met expectations, offering clues about the Federal Reserve's potential policy direction. Personal Consumption Expenditures Price index rose as anticipated in July. Market indices showed minor declines, reflecting cautious investor sentiment.
U.S. stock index futures trimmed earlier losses on Friday as investors processed an inflation report that aligned with forecasts, providing insight into the Federal Reserve's possible monetary policy moves in its upcoming meeting.
The Commerce Department revealed that the Personal Consumption Expenditures Price index (PCE) increased by 0.2% in July, matching the 0.2% estimate from economists polled by Reuters. The annual rate stood at 2.6%, consistent with expectations.
After excluding the volatile food and energy sectors, the index rose 0.3%, in line with estimates, and climbed 2.9% year-on-year as anticipated. As of 08:33 a.m. ET, the Dow E-minis fell 114 points, or 0.25%, S&P 500 E-minis dropped 17.5 points, or 0.27%, and Nasdaq 100 E-minis decreased 110 points, or 0.46%.
(With inputs from agencies.)
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