U.S. stock index futures extended gains as PCE data largely met expectations

According to data from MSX.COM, U.S. stock index futures extended gains as the PCE data largely met expectations, boosting hopes that the Federal Reserve will not be overly hawkish. A report from the U.S. Commerce Department showed that the PCE rose 0.4% month-on-month in May, compared with economists' expectations of a 0.5% increase in a Reuters poll. The year-on-year increase was 4.1%, in line with expectations. Core PCE rose 0.3% month-on-month, in line with expectations, with a year-on-year increase of 3.4%.