US STOCKS SNAPSHOT-Futures jump after consumer price data

A Labor Department report showed the consumer price index (CPI) rose 0.3% on a monthly basis in April, compared with the 0.4% increase expected by economists polled by Reuters. Annually, it increased 3.4%, in line with estimates. Excluding volatile food and energy components, the core figure rose 0.3% month-on-month in April, meeting expectations.

Futures tracking U.S. stock indexes gained on Wednesday after softer-than-expected key inflation data kept alive hopes of interest rate cuts from the Federal Reserve this year. A Labor Department report showed the consumer price index (CPI) rose 0.3% on a monthly basis in April, compared with the 0.4% increase expected by economists polled by Reuters. Annually, it increased 3.4%, in line with estimates.

Excluding volatile food and energy components, the core figure rose 0.3% month-on-month in April, meeting expectations. Annually, it gained 3.6% versus the estimated 3.6% increase. A separate report from the Commerce Department showed U.S. retail sales were flat month-on-month in April, compared with an estimated 0.4% increase.

At 08:31 a.m. ET, Dow E-minis were up 203 points, or 0.51%, S&P 500 E-minis were up 32.5 points, or 0.62%, and Nasdaq 100 E-minis were up 128.75 points, or 0.7%.