Wall St futures extend gains after economic data
SPY•U.S. stock index futures rose after August PCE inflation came in below estimates and second-quarter GDP growth was reported at 2.2%, above the 1.5% estimate.
1. Inflation data lifts futures
U.S. stock index futures moved higher after August’s PCE price index rose 0.3% monthly and 3.4% annually, versus estimates of 0.4% and 3.7%. Core PCE rose 0.2% monthly and 3% annually, compared with estimates of 0.3% and 3.3%.
2. GDP growth tops estimate
A final reading showed the U.S. economy grew 2.2% in the second quarter, compared with an estimate of 1.5%. At 8:31 a.m. ET, Dow, S&P 500 and Nasdaq 100 futures were up 0.45%, 0.45% and 0.47%, respectively.
