US stock index futures pare losses after economic data
SPY•US stock index futures pared declines after September inflation readings matched estimates, third-quarter GDP growth came in at 3.4% versus 3.2% expected, and weekly jobless claims were 194,000 versus 199,000 expected.
1. Economic data
The Personal Consumption Expenditures Price index rose 0.5% in September and 3.6% year over year, both in line with estimates. Core PCE increased 0.3% monthly and 3.1% annually, also matching expectations. The economy grew 3.4% in the third quarter, above the 3.2% estimate, while jobless claims were 194,000 for the week ended October 24, compared with an estimate of 199,000.
2. Futures moves
At 8:32 a.m. ET, Dow E-minis were down 0.28%, S&P 500 E-minis were down 0.35%, and Nasdaq 100 E-minis were down 1.16%. The futures pared declines as investors assessed the data, a day after the Federal Reserve kept interest rates unchanged.
