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Futures up: Dow 0.03%, S&P 0.02%, Nasdaq 0.04%

May 14 (Reuters) - U.S. stock index futures were little

changed on Tuesday as investors waited for producer prices data

for cues on inflation in the world's largest economy and ahead

of Federal Reserve Chair Jerome Powell speech later in the day.

Producer price index (PPI) for final demand is expected to

have edged up 0.3% last month, according to economists polled by

Reuters, after increasing by an unrevised 0.2% in March.

The PPI is expected to increase by 2.2% in the 12 months

through April, after adding 2.1% in the prior month.

Sticky inflation and persistent labor market strength have

prompted financial markets and most economists to push back

expectations for an initial Fed interest rate cut.

Traders now see a 49.6% chance that the central bank will

ease rates by 25 basis points in September, according to the CME

FedWatch Tool, from 44% last month. That compared with

expectations for first rate cut as early as March at the start

of the year.

Still, stocks have rallied so far this year, with all three

major U.S. indexes hovering near fresh record highs, underpinned

by better-than-expected first-quarter earnings and hopes that

the Fed will cut rates some time this year.

Focus will be more on Wednesday's consumer price figures to

help assess whether the upside surprises in the first quarter

were a blip or a worrying trend.

Meanwhile, Fed Chair Jerome Powell is due to speak at 1400

GMT.

At 05:00 a.m. ET, Dow e-minis were up 11 points, or

0.03%, S&P 500 e-minis were up 1 points, or 0.02%, and

Nasdaq 100 e-minis were up 7.75 points, or 0.04%.

The U.S.-listed shares of Alibaba added 0.7% in

premarket trading ahead of results.

Meanwhile, U.S. President Joe Biden unveiled a bundle of

steep tariff increases on an array of Chinese imports including

electric vehicles, computer chips and medical products.

U.S.-listed shares of Chinese EV makers Li Auto and

Xpeng slid more than 2% each.

GameStop ( GME ) jumped 39.2%, set to extend its rally after

flag bearer Roaring Kitty posted on X.com for the first time in

three years.

Other 2021 meme rally participants and highly shorted stocks

such as AMC Entertainment ( AMC ) and Koss Corp ( KOSS ) rose

38.2% and 12.6%, respectively.

(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by

Sriraj Kalluvila)