US STOCKS SNAPSHOT-Futures extend gains after October PPI data

U.S. stock index futures extended gains on Wednesday as softer-than-expected producer prices data fueled expectations that the Federal Reserve was done with its interest rate hikes.

Data showed the producer price index (PPI) rose 1.3% last month on an annual basis against expectations of a 1.9% increase. A separate report showed retail sales fell 0.1% in October on a monthly basis, compared to market forecasts of a 0.3% fall.

At 8:31 a.m. ET, Dow e-minis were up 114 points, or 0.33%, S&P 500 e-minis were up 20 points, or 0.44%, and Nasdaq 100 e-minis were up 108.25 points, or 0.68%.