Jan 14 (Reuters) - U.S. stock index futures extended

gains on Tuesday after producer prices data showed abating

inflation pressures, placating worries that the Federal Reserve

will be cautious in cutting interest rates this year.

Data from the Labor Department showed the Producer Price

Index rose 3.3% on an annual basis in December 2024, compared

with the 3.4% rise expected by economists polled by Reuters. On

a monthly basis, the index rose 0.2%.

Excluding volatile food and energy components, core PPI

increased 3.5% on an annual basis, compared with an expected

3.8% rise.

At 08:31 a.m., Dow E-minis were up 246 points, or

0.58%, S&P 500 E-minis were up 40.5 points, or 0.69%

and Nasdaq 100 E-minis were up 172.25 points, or 0.82%