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

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Futures: Dow down 0.12%, S&P 500 up 0.29%, Nasdaq up 0.22%

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August producer prices report expected at 8.30 am ET

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Oracle's forecast boosts chipmakers, power supply

companies

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Barclays raises S&P 500 year-end target

(Updates prices, adds quote)

By Purvi Agarwal and Ragini Mathur

Sept 10 (Reuters) - Futures tied to the S&P 500 hit an

all-time high on Wednesday, propelled by a surge in cloud

computing firm Oracle, as investors awaited producer prices data

due later in the day for insights into U.S. inflation.

Oracle soared 31.7% in premarket trading after it

said it expected booked revenue at its Oracle Cloud

Infrastructure business to exceed half a trillion dollars, as

demand for its low-cost cloud infrastructure services grew.

The ripple effect led to gains in some chipmakers, with

Nvidia ( NVDA ) rising 2.2%, Advanced Micro Devices ( AMD ) up

3.6% and Broadcom ( AVGO ) adding 2.2%.

Data center power suppliers also benefited from the cloud

computing giant's upbeat forecast, with Constellation Energy ( CEG )

up 1.9%, Vistra ( VST ) advancing 2.9% and GE Vernova ( GEV )

3.5% higher.

Markets will monitor August's producer prices report later

on Wednesday to assess the impact of U.S. President Donald

Trump's tariff policies on inflation, and whether it could help

make the case for a jumbo 50-basis-point cut at the U.S. Federal

Reserve meeting next week.

"A sign that elevated inflation isn't just stubborn but

heading higher could dent hopes for a succession of cuts to

come," said Susannah Streeter, head of money and markets,

Hargreaves Lansdown.

"It's unlikely to push the Fed off course this month,

but the 'dot plot' path of cuts ahead may look shakier."

Another key dataset, the U.S. consumer prices reading, is

expected on Thursday.

Recent labor market data confirmed a slowdown in the U.S.

jobs market, prompting traders to price in an at least 25-bps

reduction in interest rates at the Fed's September 16-17

meeting.

August nonfarm payrolls data led traders to bet on a

bigger-than-usual 50-bps reduction, with its probability

standing at 8.2%, CME's FedWatch tool showed.

At 07:07 a.m. ET, Dow E-minis fell 57 points, or

0.12%, Nasdaq 100 E-minis rose 52.5 points, or 0.22%,

and S&P 500 E-minis gained 19 points, or 0.29%.

Meanwhile, a federal judge on Tuesday temporarily

blocked Trump from removing Fed Governor Lisa Cook, an early

setback for the White House in an unprecedented legal battle

that could potentially upend the central bank's long-held

independence.

The three main indexes closed at record peaks on Tuesday

following a downward payrolls revision that kept rate-cut bets

intact, while a rise in UnitedHealth ( UNH ) shares aided gains.

Wall Street has had a broadly positive start to September -

a month deemed historically bad for U.S. equities - with the

benchmark index losing 1.5% on average since 2000, according to

data compiled by LSEG.

Reflecting the growing optimism around U.S. markets,

Barclays raised its 2025 year-end target for the S&P 500, for

the second time in three months, to 6,450 from 6,050.

In other stocks, Synopsys ( SNPS ) slid 22.3% before the

bell after the chip design software provider missed Wall Street

estimates for third-quarter revenue on Wednesday.

Peer Cadence Design Systems ( CDNS ) slipped 4.6%.

GameStop ( GME ) gained 11.3% after the video game retailer

reported higher second-quarter revenue.