US STOCKS SNAPSHOT-Futures extended gains after May inflation data

U.S. stock index futures extended gains on Friday after data showed a closely watched measure of inflation cooled in May, offering fresh evidence of easing price pressures due to the Federal Reserve's aggressive interest rate hikes.

U.S. stock index futures extended gains on Friday after data showed a closely watched measure of inflation cooled in May, offering fresh evidence of easing price pressures due to the Federal Reserve's aggressive interest rate hikes. A Commerce Department report showed the personal consumption expenditures (PCE) price index, considered to be the Fed's preferred inflation gauge, rose 3.8% in May, on an annual basis from 4.3% last month.

Excluding volatile food and energy components, the PCE price index rose 4.6% in May on an annual basis from 4.7% in the previous month. Economists polled by Reuters expected core rates to remain steady at 4.7%. At 8:36 a.m. ET, Dow e-minis were up 159 points, or 0.46%, S&P 500 e-minis were up 26.5 points, or 0.6%, and Nasdaq 100 e-minis were up 130.25 points, or 0.86%.