US stock index futures extend gains after August inflation data

U.S. stock index futures extended gains on Friday, after an in-line inflation reading reinforced bets that the Federal Reserve may proceed with interest rate cuts this year.

A Commerce Department report showed the Personal Consumption Expenditures index rose 2.7% in August on an annual basis, compared with an estimated 2.7% rise, according to economists polled by Reuters.

Excluding volatile food and energy components, core PCE increased 2.9%, also in line with expectations.

At 08:32 a.m. ET, Dow E-minis (YMcv1) were up 201 points, or 0.43%, S&P 500 E-minis ES1! were up 20.75 points, or 0.31% and Nasdaq 100 E-minis NQ1! were up 69 points, or 0.28%.