Dec. 16 (Bloomberg) -- U.S. stock futures maintained gains as the cost of living stagnated in November, supporting the Federal Reserve’s view that inflation remains in check.
Futures on the S&P 500 expiring in March rose 0.7 percent to 1,219.80 at 8:33 a.m. in New York. Dow Jones Industrial Average Index futures added 66 points, or 0.6 percent, to 11,888 today.
The unchanged reading in the consumer-price index last month followed a 0.1 percent decline the prior month, a report from the Labor Department showed today in Washington. That compares with a 0.1 percent increase forecast in a Bloomberg News survey of 82 economists. So-called core prices, which exclude food and energy costs, rose 0.2 percent, more than forecast, reflecting higher medical care and clothing costs.
U.S. stocks snapped a three-day decline yesterday after reports on jobless claims and manufacturing boosted confidence in the world’s largest economy. The S&P 500 is down 3.1 percent this week after posting its first back-to-back weekly gain since October. The benchmark stock measure slumped on Dec. 13 after the Fed refrained from taking new actions to bolster growth at the world’s largest economy.
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