US stock index futures extend gains as PCE data largely meets expectations

Odaily Planet Daily News According to data from MSX.COM, US stock index futures extended gains after the PCE data largely met expectations, boosting hopes that the Federal Reserve will not be overly hawkish. The Commerce Department report showed that the PCE rose 0.4% month-on-month in May, while economists polled by Reuters had expected a 0.5% increase. The year-on-year increase was 4.1%, in line with expectations. Core PCE rose 0.3% month-on-month, meeting expectations; the year-on-year increase was 3.4%.