US Stock Futures Trim Losses as PCE Inflation Matches Estimates, Q3 GDP Beats Forecasts

US stock index futures pared declines Thursday as investors digested an in-line inflation reading and stronger-than-expected third-quarter growth, a day after the Federal Reserve held interest rates steady. The Commerce Department reported the Personal Consumption Expenditures Price index rose 0.5% in September, matching Reuters-polled economist estimates, with the annual rate at 3.6%. The core reading rose 0.3% monthly and stood at 3.1% year-on-year, both in line with expectations. A separate advance GDP reading showed the US economy grew 3.4% in the third quarter versus an estimated 3.2%. Jobless claims for the week ended October 24 totaled 194,000, below the 199,000 estimate. At 08:32 a.m. ET, Dow E-minis were down 146 points, or 0.28%, S&P 500 E-minis were down 27.5 points, or 0.35%, and Nasdaq 100 E-minis were down 346.5 points, or 1.16%.