S&P 500 futures turn negative after US inflation rises more than expected

S&P 500 futures turned negative on Thursday after inflation data for May showed a bigger-than-expected increase, while weekly jobless claims dipped less than estimated.

At 8:33 a.m. ET, Dow e-minis were up 38 points, or 0.11%, S&P 500 e-minis were down 3.75 points, or 0.09% and Nasdaq 100 e-minis were down 56.75 points, or 0.41%.

Prices paid by U.S. consumers rose in May by more than forecast, extending a months-long buildup in inflation that risks becoming more established as the economy strengthens.

The consumer price index climbed 0.6% from the prior month after a 0.8% jump in April that