India, March 12 -- The major U.S. index futures are currently pointing to a sharply higher open on Wednesday, with stocks likely to move to the upside after ending the previous session off their worst levels but still mostly lower.
The futures advanced following the release of a closely watched Labor Department report showing consumer prices in the U.S. increased by slightly less than expected in the month of February.
The Labor Department said its consumer price index crept up by 0.2 percent in February after climbing by 0.5 percent in January. Economists had expected consumer prices to rise by 0.3 percent.
Excluding food and energy prices, the core consumer price index also rose by 0.2 percent in February following a 0.4 percent increa...