Feb 13 (Reuters) – U.S. stock index futures pared declines on Friday after a softer-than-expected inflation report kept the Federal Reserve on track to deliver interest rate cuts this year.
A Labor Department report showed the Consumer Price Index rose 2.4% on a yearly basis, less than the estimate of a 2.5% increase, according to economists polled by Reuters. On a monthly basis, it rose 0.2% versus an expected 0.3% rise.
Excluding volatile food and energy components, core CPI stood at 2.5% on an annual basis, in line with estimates. Core CPI stood at 0.3% on a month-on-month basis, versus a 0.3% expected rise.
At 08:32 a.m. ET, Dow E-minis were down 11 points, or 0.01%, S&P 500 E-minis were down 3.75 points, or 0.05% and Nasdaq 100 E-minis were down 36.5 points, or 0.15%
(Reporting by Purvi Agarwal in Bengaluru; Editing by Pooja Desai)
