US STOCKS SNAPSHOT-Futures pare gains after inflation data
July 11 (Reuters) – U.S. stock index futures pared gains on Thursday after U.S. underlying consumer prices increased by the most in nearly 1-1/2 years in June, dimming hopes for an aggressive interest cut by the Federal Reserve this month.
Another piece of data showed that number of Americans filing applications for unemployment benefits dropped to a three-month low last week, suggesting sustained labor market strength that could help support a slowing economy.
At 8:30 a.m. ET, Dow e-minis were up 88 points, or 0.33%. S&P 500 e-minis were up 4.5 points, or 0.15% and Nasdaq 100 e-minis were up 7.75 points, or 0.1%.
Moments before the data, Dow e-minis were up 113 points, or 0.42%. S&P 500 e-minis were up 8 points, or 0.27% and Nasdaq 100 e-minis were up 24 points, or 0.3%. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)
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