May 30 (Reuters) - U.S. stock index futures pared some losses on Friday after a benign inflation reading added to hopes that the U.S. Federal Reserve could cut interest rates soon.
A commerce department report showed the Personal Consumption Expenditures Price index (PCE) rose 0.1% in April compared with a 0.1% increase expected by economists polled by Reuters. Annually, it stood at 2.1% against estimates of 2.2%.
The core reading increased 0.1% on a monthly basis compared with an estimated 0.1% rise. It stood at 2.5% on a year-on-year basis against estimates of 2.5%.
At 08:33 a.m. ET, Dow E-minis YMcv1 were down 124 points, or 0.29%, S&P 500 E-minis EScv1 were down 21.5 points, or 0.36% and Nasdaq 100 E-minis NQcv1 were down 72.5 points, or 0.34%.
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Shinjini Ganguli)
((Shashwat.Chauhan@thomsonreuters.com))
