U.S. stock index futures extended their gains as PCE data came in largely in line with expectations
Svmuu News: According to data from MSX.COM, U.S. stock index futures extended their gains as PCE data largely met expectations, bolstering market hopes that the Federal Reserve would not adopt an overly hawkish stance.A report from the U.S. Department of Commerce showed that the PCE rose 0.4% month-over-month in May, while economists surveyed by Reuters had expected a 0.5% increase. The year-over-year increase was 4.1%, in line with expectations. Core PCE rose 0.3% month-over-month, in line with expectations; the year-over-year increase was 3.4%.
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