US STOCKS SNAPSHOT-Futures pare gains after February PPI data

A Labor Department report showed the Producer Price Index (PPI) rose 0.6% month-on-month in February, compared with a 0.3% increase expected by economists polled by Reuters. Annually, it rose 1.6%, versus an estimated growth of 1.1%. A separate report from the Commerce Department showed U.S. retail sales rose 0.6% month-on-month in February, compared to an estimated 0.8% increase.

U.S. stock index futures pared gains on Thursday, as a hotter-than-anticipated producer prices reading dented hopes of the Federal Reserve cutting interest rates in the coming months. A Labor Department report showed the Producer Price Index (PPI) rose 0.6% month-on-month in February, compared with a 0.3% increase expected by economists polled by Reuters. Annually, it rose 1.6%, versus an estimated growth of 1.1%.

A separate report from the Commerce Department showed U.S. retail sales rose 0.6% month-on-month in February, compared to an estimated 0.8% increase. Meanwhile, the number of Americans filing for unemployment claims stood at 209,000 for the week ended March 9, compared with an estimated 218,000 claims, according to a Labor Department report.

At 8:31 a.m. ET, Dow e-minis were up 108 points, or 0.28%, S&P 500 e-minis were up 9.75 points, or 0.19%, and Nasdaq 100 e-minis were up 43.75 points, or 0.24%.