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markets, click or type LIVE/ in a news window.)

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Futures: Dow down 0.03%, S&P 500 up 0.47%, Nasdaq up 0.51%

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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 2025 year-end target

(Updates before markets open)

By Purvi Agarwal and Ragini Mathur

Sept 10 (Reuters) -

The S&P 500 and the Nasdaq were on track for a higher open

on Wednesday after cooler-than-expected producer inflation data

boosted bets on a September interest-rate cut by the Fed, while

a surge in cloud computing firm Oracle added to gains.

U.S. producer prices

fell unexpectedly

in August, dragged down by a decline in the cost of

services, with traders shoring up their bets on interest-rate

cuts this year.

Bets on a 25-basis-point cut at the U.S. Federal

Reserve's September 16-17 meeting stood at 90%, while those on a

larger 50-bps cut were at about 10%, CME's FedWatch tool showed.

"Any and all signs that inflation is coming down...

(are) welcomed with a big please and thank you from the market

and from the Fed," said Adam Sarhan, chief executive of 50 Park

Investments.

"The fact that producer prices, which are more prone to

the tariffs, came down, that's bullish for stocks... It gives

the Fed more room to cut rates."

Oracle jumped 31.5% in premarket trading after

saying 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 3.2%, Advanced Micro Devices ( AMD ) up

4.4% and Broadcom ( AVGO ) adding 3.7%.

Data center power suppliers also benefited from the cloud

computing giant's upbeat forecast. Constellation Energy ( CEG )

was up 2.4%, Vistra ( VST ) advanced 3.6% and GE Vernova ( GEV )

rose 3.9%.

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

expected on Thursday.

Recent labor market data confirmed the U.S. jobs market is

in a slowdown, prompting traders to price in an at least 25-bps

reduction in borrowing costs in September. The August nonfarm

payrolls reading has brought a 50-bps reduction to the table,

with bets currently at 10.2%.

At 08:50 a.m. ET, Dow E-minis were down 13 points,

or 0.03%, S&P 500 E-minis gained 30.75 points, or 0.47%,

and Nasdaq 100 E-minis rose 122.75 points, or 0.51%.

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's ( 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 24% 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 4.5%.

GameStop ( GME ) added 7.4% after the video game retailer

reported higher second-quarter revenue.