Bloomberg News

U.S. Stock Futures Maintain Gains After Consumer Price Report

December 16, 2011

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.

To contact the editor responsible for this story: Jeff Sutherland at jsutherlan13@bloomberg.net


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