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Futures: Dow flat, S&P 500 down 0.18%, Nasdaq down 0.26%

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Intel ( INTC ) rises on report chipmaker seeking investment from

Apple ( AAPL )

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Oracle looks to raise $18 billion in debt; shares down

(Updates prices)

By Niket Nishant and Sukriti Gupta

Sept 25 (Reuters) - Futures tied to the S&P 500 and the

Nasdaq edged lower on Thursday, after a record-breaking rally

earlier this week, as investors awaited fresh catalysts to

sustain the momentum in what has been an unusually strong

September for markets.

The tentative moves reflect a broader sense of caution ahead

of Friday's release of the Personal Consumption Expenditures

index, the Federal Reserve's preferred inflation measure, which

could shape expectations for the path of interest rates.

With Fed Chair Jerome Powell noting earlier this week that

asset prices appeared fairly highly valued, the stakes are

higher for both economic data and corporate earnings to justify

current market valuations.

Investors are focused on whether the optimism that has

propelled indexes to record highs since the tariff-driven

selloff on April 2 is backed by solid fundamentals.

"The bearish bias is likely to continue into Friday's PCE

data as markets want more concrete evidence that inflation is

cooling, leaving risks skewed to the downside if the data comes

in hotter than expected," said Daniela Hathorn, senior market

analyst at online trading firm Capital.com.

At 06:50 a.m. ET, Dow E-minis were mostly unchanged,

S&P 500 E-minis were down 12 points, or 0.18%, and

Nasdaq 100 E-minis were down 64.75 points, or 0.26%.

Data on Wednesday showed sales of newly constructed

single-family U.S. homes unexpectedly surged 20.5% in August,

but some analysts cautioned that the spike may reflect

short-term factors.

"One possibility could be that homebuilders are offering

greater incentives to lock in sales now ahead of future

challenges from a weakening labor market, increased building

costs and shrinking labor supply," Citigroup economists said.

More economic data is expected on Thursday, including the

National Association of Realtors' existing home sales report,

weekly jobless claims, durable goods orders and the Commerce

Department's final estimate of second-quarter GDP.

Investors will also monitor commentary from a slate of Fed

officials to gauge the central bank's evolving stance.

Fed Vice Chair for Supervision Michelle Bowman is scheduled

to speak in Washington, while Chicago Fed President Austan

Goolsbee will participate in a discussion on the economy in

Michigan.

A potential government shutdown could also be looming in

Washington, where budget negotiations have so far failed to

yield an agreement, a development that could inject fresh

volatility into an already uncertain market backdrop.

Among the stocks in focus is Intel ( INTC ), which has

gained 3.5% before the open, a day after Bloomberg News reported

that the chipmaker has approached Apple ( AAPL ) about securing

an investment.

Brokerage firm Seaport Research Partners upgraded Intel's ( INTC )

stock to "neutral" from "sell". Apple ( AAPL ) is up 0.3%.

Shares of Opendoor Technologies ( OPEN ) gained 6.8%, after

trading firm Jane Street disclosed a 5.9% stake in the

residential real estate platform.

U.S.-listed shares of Lithium Americas climbed about

13.6%, after nearly doubling in the previous session, following

a Reuters report that President Donald Trump's administration is

seeking an up to 10% stake in the miner.

Oracle slipped 2.1% after a regulatory filing

showed on Wednesday that the company was aiming to raise $18

billion in debt.