US STOCKS SNAPSHOT — S&P 500 futures turn negative after Sept inflation data

Oct 14 (Reuters) — Futures tied to the S&P 500 turned negative on Wednesday after a hotter-than-expected inflation reading reduced confidence that the Federal Reserve will keep rates unchanged at its October meeting. A Labor Department report showed the Consumer Price Index rose 3.7% on an annual basis, above estimates of 3.6%, according to economists polled. It increased 0.6% on a monthly basis, compared with estimates of a 0.6% rise. Excluding volatile food and energy components, core CPI increased 2.6% annually in September versus expectations of a 2.5% rise. On a monthly basis, it rose 0.3%, above estimates of a 0.2% gain. At 08:33 a.m. ET, Dow E-minis were down 83 points, or 0.16%, S&P 500 E-minis were down 18.75 points, or 0.24%, and Nasdaq 100 E-minis were down 156.5 points, or 0.49%. (Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Devika Syamnath) ((tharuniyaa@thomsonreuters.com)