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US STOCKS SNAPSHOT-Futures extend gains after July PPI data
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US STOCKS SNAPSHOT-Futures extend gains after July PPI data
Aug 13, 2024 5:54 AM

Aug 13 (Reuters) - U.S. stock index futures extended

their gains on Tuesday after a producer prices report showed

abating inflation pressures, keeping the Federal Reserve on

track to cut interest rates in September.

Data from the U.S. Labor Department showed the producer

price index rose 0.1% on a monthly basis in July, compared to

the 0.2% rise expected by economists polled by Reuters.

Annually, it rose to 2.2%, versus an estimate of a 2.3%.

Excluding volatile food and energy components, core PPI did

not increase month-on-month, compared to an expected 0.2% rise.

Annually, the narrower measure of PPI stood at 2.4%, versus an

estimated 2.7% advance.

At 08:30 a.m., Dow E-minis were up 111 points, or

0.28%, S&P 500 E-minis were up 32 points, or 0.57% and

Nasdaq 100 E-minis were up 154 points, or 0.83%.

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