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Marvell ( MRVL ) jumps after forecasting Q3 results above estimates

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Ulta Beauty ( ULTA ) tumbles following annual forecast trim

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Dell gains after raising annual results forecast

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July PCE data due at 8:30 a.m. ET

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Futures up: Dow 0.21%, S&P 500 0.42%, Nasdaq 0.71%

(Updated at 07:08 a.m. ET/1108 GMT)

By Johann M Cherian and Purvi Agarwal

Aug 30 (Reuters) - U.S. stock index futures edged up on

Friday ahead of a crucial inflation report that could influence

investor expectations about the extent of the central bank's

interest-rate cuts this year.

Global markets are nearing the end of a tumultuous month for

riskier assets, after signs of a sudden moderation in the labor

market sparked fears of a quicker-than-expected slowdown in the

world's largest economy in early August. The influence of the

Japanese yen carry trade worsened the rout.

Risk-taking has improved since then, with the Dow at

a record high and on track for monthly gains as subsequent data,

including Thursday's upward revision to economic growth, soothed

nervous investors.

"With all that data in hand, the general perception is that

the (U.S.) economy is doing better than thought, and that a

larger 50 basis point cut from the Fed is now less likely,"

Deutsche Bank analysts said in a note.

Focus now shifts to the Personal Consumption Expenditure

data, the Fed's preferred inflation gauge, due at 8:30 a.m. ET.

This will be the last PCE report before the Federal

Reserve's highly anticipated September meeting. Economists

polled by Reuters forecast a marginal rise in inflation to 2.6%

in July on an annual basis, from the previous month's 2.5%.

Following Fed Chair Jerome Powell's support last week for

imminent policy adjustment, optimism around an interest-rate cut

in September remains strong. Odds of a 25-basis-point reduction

are at 65.5%, while those of a 50-bps reduction are at 34.5%,

according to the CME Group's FedWatch Tool.

At 07:08 a.m., Dow E-minis were up 89 points, or

0.21%, S&P 500 E-minis were up 23.75 points, or 0.42%,

Nasdaq 100 E-minis were up 138.5 points, or 0.71%.

The tech-focused Nasdaq and the S&P 500

closed lower in the previous session after Nvidia ( NVDA )

failed to match investors' sky-high expectations despite upbeat

results and a broadly in-line forecast. The AI-chip bellwether

was up 1.3% in premarket trading after a 6.4% drop in the

previous session.

The benchmark S&P 500 is close to an all-time high, poised

for a monthly gain of 1.2%, while the Nasdaq is down 0.47% in

August.

Rate-sensitive megacaps such as Alphabet and

Microsoft ( MSFT ) added 0.8% each, while Tesla rose

more than 1%, supported by a dip in Treasury yields.

Among others, Marvell Technology ( MRVL ) forecast

third-quarter results above Street estimates, sending the

chipmaker's shares up 10.8%.

Dell Technologies ( DELL ) advanced 5.7% after lifting its

annual revenue and profit forecasts, buoyed by demand for its

AI-optimized servers.

Lululemon Athletica ( LULU ) gained 4% after posting a beat

on second-quarter profit, while Ulta Beauty ( ULTA ) slid 8.4%

after it trimmed its annual results forecasts due to slowing

demand.

Investors will also parse the University of Michigan's final

reading on consumer sentiment for the month of August later in

the day.

Trading volumes are expected to thin ahead of the extended

weekend due to the Labor Day holiday.