US consumer prices in Februaryindex(CPI) rose in line with expectations, and US stock futures rose in response,Dow JonesIndex futures climbed nearly 250 points, or 0.76%, and the S&P 500 futures rose 0.88% after hearing the news.nasdaqFutures rose 0.77%.
CNBC reported that the CPI rose 0.4% in February from the previous month, representing an annual increase of 6%, both in line with Dow Jones estimates. However, core CPI rose 0.5% after cuts in energy and food from January, slightly higher than expected; Annual growth was 5.5% in line with expectations. The higher-than-expected core CPI will make things difficult for the Federal Reserve (Fed), which is trying to suppress inflation without straining the banking industry.
Finance
