US stock index futures extend gains as PCE data is roughly in line with expectations

Glonghui, June 25｜U.S. stock index futures extended gains as PCE data was broadly in line with expectations, boosting hopes that the Federal Reserve will not be overly hawkish. According to a report from the U.S. Department of Commerce, PCE rose 0.4% month-on-month in May, while economists surveyed by Reuters had expected an increase of 0.5%. The year-on-year growth was 4.1%, in line with expectations. Core PCE rose 0.3% month-on-month, in line with expectations; the year-on-year increase was 3.4%.