US futures extend losses after higher-than-expected inflation data

(Reuters) - Stock index futures extended losses on Thursday as data showed U.S. inflation was higher than expected in September, hinting at the possibility of fewer interest-rate cuts later this year.

A Labor Department report showed the Consumer Price Index rose 2.4% in September on an annual basis, compared with an estimate of a 2.3% rise. It rose 0.2% in the month, versus an estimate of a 0.1% increase.

The core figure, excluding volatile food and energy components, rose 0.3% on a monthly basis against a forecast of a 0.2% rise. Annually, core inflation was 3.3% versus an estimated 3.2% increase.



Investors also scrutinized a Labor Department report that showed jobless claims were 258,000 for the week ended Oct. 5, versus an estimate of 230,000.

At 8:33 a.m. ET, U.S. S&P 500 E-minis were down 12.5 points, or 0.21%,, Nasdaq 100 E-minis were down 69.25 points, or 0.34%, Dow E-minis were down 70 points, or 0.16%

Source: Investing.com