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Cisco Systems ( CSCO ) gains after upbeat Q1 rev forecast, cuts 7%

jobs

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Nike ( NKE ) rises after Ackman's Pershing Square reveals new

stakes

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Walmart ( WMT ) advances after raising FY profit forecast

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Futures up: Dow 0.2%, Nasdaq 0.11%, S&P 500 0.08%

(Updated at 7:10 a.m. ET/ 1110 GMT)

By Shubham Batra and Shashwat Chauhan

Aug 15 (Reuters) - U.S. stock index futures were

marginally higher on Thursday ahead of another batch of economic

data, after benign consumer inflation figures reinforced hopes

for a September start to the Federal Reserve's rate-cutting

cycle.

Most megacap and growth stocks edged up in premarket

trading. Nvidia ( NVDA ) was an outlier with a 0.7% decline.

Retail bellwether Walmart ( WMT ) added 6.3% after

raising its annual profit forecast for the second time this

year.

On the data front, the Commerce Department's retail

sales data, due at 8:30 a.m. ET, is expected to show a 0.3%

growth in retail sales in July on a monthly basis.

"The bounce back in auto sales is expected to support the

headline number, but the market will focus on the retail sales

control group," said an ING note.

"The consensus is 0.1% MoM and any MoM decline here (-0.1%,

-0.2% are possible) could weigh on the short end of the US rates

curve and the dollar."

Initial jobless claims for the week ended Aug. 10 are

forecast to increase marginally to 235,000 from 233,000 a week

earlier.

The S&P 500 on Wednesday extended its winning streak

to five sessions, boosted by softer inflation data, but the

Nasdaq barely scraped into positive territory as

Alphabet and some megacap stocks weighed.

Investors have kept a cautious eye on this week's data

releases - the last set of economic indicators before Fed

Chairman Jerome Powell delivers a much-anticipated speech at

Jackson Hole next week.

Traders currently see a 64.5% chance of Fed cutting rates by

25 basis points in September from being evenly split between a

25- and a 50-basis-point cut before the inflation data,

according to CME's FedWatch Tool.

Comments from Philadelphia Fed President Patrick Harker, due

at 1:10 p.m. ET, will be closely eyed for any clues on the Fed's

interest-rate path.

Meanwhile, Atlanta Fed President Raphael Bostic told the

Financial Times that he is open to an interest rate cut in

September, adding that the U.S. central bank can't "afford to be

late" to ease monetary policy.

At 07:10 a.m. ET, Dow E-minis were up 85 points, or

0.21%, S&P 500 E-minis were up 4.25 points, or 0.08% and

Nasdaq 100 E-minis were up 21.75 points, or 0.11%.

Among other movers, Cisco Systems ( CSCO ) rose 5.8% after

it forecast better-than-expected first-quarter revenue on

Wednesday and said it was cutting 7% of its global workforce.

Nike ( NKE ) climbed 3.9% as billionaire investor William

Ackman built new stakes in sportswear company and investment

management company Brookfield during the second quarter.

Ulta Beauty ( ULTA ) jumped 13.6% after Warren Buffett's

Berkshire Hathaway ( BRK/A ) acquired a stake in the cosmetics

store chain.

Deere & Co ( DE ) gained 1.4% after the farm,

construction and forestry equipment maker

beat analysts' expectations

for third-quarter profit.

U.S.-listed shares of Alibaba Group Holding ( BABA )

slipped 4.5% after the e-commerce giant missed

market expectations for

first-quarter revenue.

(Reporting by Shubham Batra and Shashwat Chauhan in Bengaluru;

Editing by Saumyadeb Chakrabarty)