Oct 29 (Reuters) – US stock index futures pared declines slightly on Thursday as investors assessed the latest inflation reading, released a day after the US Federal Reserve kept interest rates unchanged.
A Commerce Department report showed the Personal Consumption Expenditures Price index rose 0.5% in September, in line with the estimates of economists polled by Reuters. Annually, it stood at 3.6%, also in line with the estimate.
The core reading increased 0.3% on a monthly basis, while it stood at 3.1% on a year-on-year basis. Both readings were in line with expectations
A separate reading of advance gross domestic product showed the US economy grew 3.4% in the third quarter, compared with the estimate of 3.2% growth. A jobless claims report for the week ended October 24 showed claims stood at 194,000, compared with the estimate of 199,000.
At 08:32 a.m. ET, Dow E-minis were down 146 points, or 0.28%, S&P 500 E-minis were down 27.5 points, or 0.35%, and Nasdaq 100 E-minis were down 346.5 points, or 1.16%.
(Reporting by Utkarsh Hathi in Bengaluru; Editing by Shilpi Majumdar)
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