(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

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Fed's July meet minutes to be released at 2:00 p.m. ET

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Payrolls revisions due at 10:00 a.m. ET

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Target ( TGT ) jumps after lifting FY profit forecast

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JD.com ( JD ) slides after Walmart ( WMT ) sells $3.74 bln stake

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Futures up: Dow 0.17%, S&P 500 0.17%, Nasdaq 0.16%

(Updated at 06:59 a.m. ET/1059 GMT)

By Shashwat Chauhan and Johann M Cherian

Aug 21 (Reuters) - U.S. stock index futures inched up on

Wednesday, as investors awaited the release of the updated U.S.

payrolls data and the minutes from the Federal Reserve's July

policy meeting.

The report from the Bureau of Labor Statistics, with

preliminary revisions to the jobs data, is due at 10:00 a.m. ET.

Most economists expect a downward revision, with Goldman Sachs

estimating that 600,000 to 1 million fewer jobs were created

between April 2023 and March 2024.

"A stronger number would also not change much to the Federal

Reserve's easing trajectory as the latest job data is already

hinting at a cooling labour market," strategists at ING wrote in

a morning note.

Minutes from the Fed's last policy meeting are also due

later in the day, ahead of Chair Jerome Powell's speech at the

Jackson Hole economic symposium on Friday.

"We expect the Fed chairman to continue to signal that a

first rate cut is on the cards for September. Yet there is a

chance that investors could be disappointed by the comments, if

there are any references to the stickiness of inflation," said

Guy Stear, head of developed markets strategy at the Amundi

Investment Institute.

Financial markets are currently pricing in a 69.5%

likelihood of a 25 basis-points interest rate cut by the Fed in

September, with a 30.5% chance of a super-sized 50 bps cut,

according to CME's FedWatch tool.

Fed Governor Michelle Bowman on Tuesday said she remains

cautious about any shift in central bank policy as she sees

continued upside risks for inflation, warning that overreacting

to any single data point could put progress made against

inflation at risk.

At 06:59 a.m. ET, Dow E-minis were up 68 points, or

0.17%, and S&P 500 E-minis were up 9.75 points, or

0.17%, while Nasdaq 100 E-minis were up 31.5 points, or

0.16%.

Wall Street's main indexes closed marginally lower on

Tuesday, breaking their recent winning streak.

Risk appetite had returned to global equities last week

following sharp declines earlier this month, boosted by the

likelihood of rate cuts from the U.S. central bank in September,

with all three major U.S. benchmarks now at levels seen before

the sell-off.

Among top premarket movers on Wednesday, Target ( TGT )

jumped 13% after the retailer raised its annual profit forecast

and posted upbeat quarterly comparable sales as more Americans

shopped at its stores, drawn by low-priced groceries and

essentials.

U.S.-listed shares of Chinese e-commerce firm JD.com ( JD )

dropped 7% after Reuters reported that Walmart ( WMT )

, the company's biggest shareholder, has sold its entire

stake in the firm. Walmart's ( WMT ) shares were up nearly 1%.

Macy's lowered its annual net sales forecast as

lingering weakness in U.S. consumer spending dashed hopes of a

turnaround in demand for big-ticket discretionary goods, sending

the retailer's shares down 8%.

Keysight Technologies ( KEYS ) gained 11.8% after the

electronic equipment maker beat third-quarter revenue and profit

estimates.

Overall, U.S. stock trading volumes have been light this

month as many investors are away for summer break.

(Reporting by Shashwat Chauhan and Johann M Cherian in

Bengaluru; Editing by Varun H K and Shinjini Ganguli)