SNAPSHOT Futures extend gains on softer inflation data

March 31 (Reuters) – Futures tracking Wall Street’s main indexes extended gains on Friday after data showed growth in personal consumption slowed in February, supporting hopes for a softer monetary policy approach from the Federal Reserve.

A report from the Commerce Department showed that the personal consumption expenditures (PCE) index, which is the Fed̵[ads1]7;s preferred inflation gauge, rose 0.3% in February, on a monthly basis, compared with a 0.6% increase in January.

Traders’ bet on a 25-basis-point rate hike stands at 55.5%, with odds of a pause at 44.5%, according to CME Group’s Fedwatch tool.

At 8:35 a.m. ET, the Dow e-minis were up 127 points, or 0.38%, the S&P 500 e-minis were up 15 points, or 0.37%, and the Nasdaq 100 e-minis were up 33.5 points, or 0.26%.

Reporting by Amruta Khandekar and Ankika Biswas in Bengaluru Editing by Vinay Dwivedi

Our standards: Thomson Reuters Trust Principles.