US STOCKS SNAPSHOT-U.S. stock futures pare losses after March inflation reading
April 10 (Reuters) - U.S. stock index futures pared their early losses on Thursday after a cooler-than-expected inflation reading bolstered expectations that the Federal Reserve would remain on track to cut interest rates this year.
A Commerce Department report showed the consumer price index rose 2.4% in March on an annual basis, compared with expectations of a 2.6% rise, according to economists polled by Reuters. On a monthly basis, it slowed 0.1%.
Excluding volatile food and energy components, core CPI increased to 2.8% on an annual basis, compared with estimates of 3%.
Separately, a Labor Department report showed the number of new Americans filing for unemployment benefits came in at 223,000, compared with estimates of 223,000.
At 08:31 a.m. ET, Dow E-minis 1YMcv1 were down 432 points, or 1.06%, S&P 500 E-minis EScv1 were down 79.25 points, or 1.44% and Nasdaq 100 E-minis NQcv1 were down 349 points, or 1.81%.
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