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Workday, Apollo Global Management ( APO ) up on planned S&P 500

addition

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Interpublic jumps after report of merger talks with

Omnicom ( OMC )

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Futures: Dow up 0.05%, S&P 500 down 0.05%, Nasdaq down

0.16%

(Updates before markets open)

By Purvi Agarwal and Shashwat Chauhan

Dec 9 (Reuters) - Wall Street's main indexes were set

for a subdued open on Monday, after the S&P 500 and the Nasdaq

notched record closing highs in the previous session on upbeat

corporate forecasts, while investors awaited a key inflation

report this week.

The consumer prices index (CPI) data due on Wednesday is

among the last major datasets ahead of the Federal Reserve's

Dec. 17-18 meeting and could influence the central bank's

monetary policy path.

"The thing to watch will be any hint or evidence that core

CPI might moderate into 2025 because the Fed will have a hard

time continuing to cut at the pace they're on now," said Ross

Mayfield, investment strategist at Baird.

Bets of a 25-basis-point rate cut at the upcoming

meeting shot up to more than 89% after data on Friday showed a

rise in the unemployment rate to 4.2% in November, pointing to

an easing labor market.

Citigroup revised its December rate-cut call to 25-bps

versus its prior forecast of 50 bps, while Jefferies stuck to

its 25-bps forecast.

A host of Fed officials including Chair Jerome Powell last

week said that the central bank could afford to be more cautious

with its monetary policy easing path, given the resilience of

the economy.

At 08:26 a.m. ET, Dow E-minis were up 21 points, or

0.05%, S&P 500 E-minis were down 3.25 points, or 0.05%,

and Nasdaq 100 E-minis were down 34.25 points, or 0.16%.

Wall Street's main indexes kicked off December on a broadly

positive note, with the benchmark S&P 500 and the

tech-heavy Nasdaq logging gains in their first week,

while the blue-chip Dow ended the week marginally lower.

U.S. equities surged in November as Donald Trump's victory

in the presidential election and his party sweeping both houses

of Congress raised expectations of a friendlier policy stance

towards companies.

Mayfield dismissed concerns over the sustainability of the

rally in U.S. equities and said he sees the bull market

continuing in 2025, "driven primarily by growth in earnings and

profit growth at U.S. companies".

Global markets were also keeping an eye on political

developments in Syria, France and South Korea.

Among notable premarket movers, Workday and Apollo

Global Management ( APO ) jumped 8.9% and 5.7%, respectively, on

their planned inclusion into the S&P 500 index.

Nvidia ( NVDA ) was last down 2.4% after China's market

regulator said it had opened an investigation into the company

over suspected violation of the country's antimonopoly law.

Interpublic Group advanced 14.8% after a report said

marketing conglomerate Omnicom ( OMC ) was in advanced talks to

acquire the advertising company. Omnicom ( OMC ) shares were down 2.3%.

U.S.-listed shares of Chinese companies gained after the

Chinese Politburo hinted at a shift to looser monetary policy

next year and more proactive fiscal policy to spur economic

growth. Alibaba was up 6%, PDD Holdings ( PDD ) climbed

7% and Baidu added 5.6%.