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Adobe drops after dour Q2 revenue forecast

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Micron Technology ( MU ) gains after Citi lifts PT

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All three major indexes set for weekly gains

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Futures up: Dow 0.15%, S&P 0.19%, Nasdaq 0.18%

(Updated at 7 a.m. ET/ 1100 GMT)

By Bansari Mayur Kamdar and Shashwat Chauhan

March 15 (Reuters) -

Futures tracking Wall Street's main stock indexes were

marginally higher on Friday after U.S. Treasury yields took a

breather following a sharp rise in the last session, setting the

indexes up for weekly advances.

Wall Street was set to end slightly higher this week in

spite of hotter-than-expected consumer prices and producer

prices data pointing to sticky inflation, which had sent the

yield on the 10-year note to a two-week high.

Higher inflation adds pressure on the Fed to keep interest

rates elevated, pushing traders to rein in bets of a June rate

cut to 60% from 73% last week, according to the CME FedWatch

Tool.

All eyes are now on the Federal Reserve's meeting next week

for hints on the timing of the central bank's rate-easing cycle.

"At the Fed, the big question next week is what they'll

signal in their new dot plot, and whether the median dot still

points towards three cuts for 2024, as happened in December,"

Jim Reid, Deutsche Bank's global head of economics and thematic

research, said in a note.

Friday also marked the simultaneous expiry of quarterly

derivatives contracts tied to stocks, index options and futures,

also known as "triple witching".

At 7:00 a.m. ET, Dow e-minis were up 58 points,

or 0.15%, S&P 500 e-minis were up 9.75 points, or 0.19%,

and Nasdaq 100 e-minis were up 33.75 points, or 0.18%.

Semiconductor stocks fell in the previous session and

were on track to snap their three-week winning streak as

investors took profits. The global GTC developer conference from

March 18 to 21 will be closely watched for AI-related

announcements.

Most megacap shares crept up in premarket trading, with

Tesla climbing 1.0% after two sessions of more than 4%

losses each.

Madrigal Pharmaceuticals ( MDGL ) jumped 24.3% after the

U.S. Food and Drug Administration approved its drug for a fatty

liver disease known as non-alcoholic steatohepatitis.

Micron Technology ( MU ) rose 3.0% after brokerage Citi

raised its price target on the company to $150, the highest on

Wall Street for the chipmaker, according to LSEG data.

Adobe shed 11.2% after it forecast second-quarter

revenue below analysts' estimates, following stiff competition

and weak demand for its AI-integrated photography, illustration

and video.

Ulta Beauty ( ULTA ) slid 6.3% after forecasting full-year

profit below Wall Street estimates, as elevated supply-chain

costs and increased promotions hurt its margins.

Crypto stocks such as MicroStrategy ( MSTR ), Marathon

Digital ( MARA ) and Coinbase Global ( COIN ) eased between 5.1%

and 5.5% as bitcoin fell.