U.S. stock index futures and bonds rocketed higher on Wednesday, after a key inflation reading came in softer than expected, bolstering the case for further Federal Reserve interest rate cuts.   Following the release of the inflation data at 0830 ET,

U.S. stock index futures extended gains on Wednesday as investors assessed a broadly in-line consumer inflation report to gauge its effect on the Federal Reserve's monetary policy easing this year. Data from the Labor Department showed the consumer price index rose 2.