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Delta Air Lines ( DAL ) down after Q3 results

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CPI data due at 8:30 a.m. ET

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Futures down: Dow 0.10%, S&P 500 0.17%, Nasdaq 0.20%

(Updated at 6:45 a.m. ET/1045 GMT)

By Lisa Pauline Mattackal and Pranav Kashyap

Oct 10 (Reuters) -

U.S. stock index futures declined on Thursday as investors

braced for a highly anticipated inflation report that is

expected to provide clues on the likely course the central

bank's policymakers will take for the remainder of the year.

Most megacap stocks were flat-to-lower in premarket

trading, although Tesla gained 1.1% ahead of the highly

anticipated unveiling of its robotaxi at an event later in the

day.

Dow E-minis were down 44 points, or 0.10%, S&P

500 E-minis were down 10 points, or 0.17%, and Nasdaq

100 E-minis were down 40.5 points, or 0.20%.

The S&P 500 and the Dow notched up record closing

highs on Wednesday, after minutes from the Federal Reserve's

last meeting showed a "substantial majority" of policymakers had

favored September's outsized 50-basis-point rate cut.

In the wake of strong economic data over the past week,

traders have steadily decreased bets on a 50-basis-point rate

reduction at the Fed's next meeting, now pricing in an 82%

chance of a 25-bps cut in November and an 18% chance of no

change at all.

All eyes will be on the Consumer Price Index report, set

to be released at 8:30 a.m. ET, for insights into the central

bank's battle with inflation and its implications for borrowing

costs.

September's CPI is forecast to show core inflation holding

steady at 3.20% on an annual basis, while slipping slightly to

0.2% month-over-month, according to economists Reuters polled.

"The CPI report is likely to show that inflation has leveled

off and perhaps even cooled further. Price stability is likely

to prove critical to extending the economic cycle," said Scott

Helfstein, head of investment strategy at Global X.

"There is little reason for the Fed to deviate from 25 bps

cuts through (the) year end, given the favorable economic

backdrop."

Weekly jobless claims data is also scheduled for release at

8:30 a.m. ET on the day.

Attention will also shift to the start of third-quarter

earnings season, with major banks scheduled to report on Friday.

The third-quarter earnings growth rate for the S&P 500 is

estimated at 5% year-over-year, according to estimates compiled

by LSEG. This will be a key test to ascertain if the recent

equity rally is sustainable.

Apart from earnings, investors are grappling with rising

Treasury yields - the benchmark 10-year Treasury note yield is

trading around its highest since late July - along with the

impact of the Middle East conflict on oil prices and the

upcoming U.S. presidential election.

Investors were also monitoring the impact from Hurricane

Milton, which made landfall on Florida's west coast late on

Wednesday.

Among single movers, shares of Pfizer ( PFE ) fell 1.5% as

former executives distanced themselves from activist investor

Starboard's campaign against the drugmaker.

Delta Air Lines ( DAL ) lost 6.3% after the

Atlanta-based carrier posted a

third-quarter

adjusted profit of $1.50 per share, lower than the $1.52

estimated by analysts.