* Futures up: Dow 0.11%, S&P 500 0.25%, Nasdaq 0.65%
* CoreWeave ( CRWV ) jumps after lifting annual capex forecast
* Super Micro Computer ( SMCI ) up after upbeat 2027 revenue outlook
* July consumer prices data due at 8:30 am ET
(Updates prices)
By Avinash P and Purvi Agarwal
Aug 12 (Reuters) - Wall Street futures inched up on
Wednesday before a key inflation report that could influence the
U.S. Federal Reserve's monetary policy path, while upbeat
earnings from some AI infrastructure companies also bolstered
markets.
July consumer prices data, due at 8:30 a.m. ET, is expected
to show that prices increased moderately in July. The CPI likely
rebounded 0.1% last month, a Reuters survey of economists
predicted, after falling 0.4% in June.
In the 12 months through July, the CPI was forecast to have
increased 3.4% after advancing 3.5% in June.
"Today's U.S. CPI print will give an idea of how fast
inflation could fade when the Iran war is over and the upside
pressure on energy prices fades for good," said Ipek
Ozkardeskaya, senior analyst at Swissquote.
"But it won't tell us what the Federal Reserve should do
next, as next month's figures will again be tainted by a rebound
in energy prices."
Inflation figures will be under heightened scrutiny as
elevated energy prices stemming from the Middle East conflict
have ratcheted up rate-hike odds, and as Fed Chair Kevin Warsh
stands firm on muted forward guidance.
Currently, money market data showed expectations are evenly
split between a 25-basis-point rate hike and a pause in
September, according to CME's FedWatch Tool.
The situation in the Middle East remained volatile as the
U.S. and Yemen's Iran-aligned Houthis reported separate attacks
on shipping on Tuesday as prospects for ending the war appeared
to dim.
At 07:00 a.m. ET, Dow E-minis rose 59 points, or
0.11%, S&P 500 E-minis added 19.25 points, or 0.25%, and
Nasdaq 100 E-minis gained 196.75 points, or 0.65%.
CoreWeave ( CRWV ) jumped 18.2% in premarket trading after
the AI cloud company lifted its annual capital spending forecast
and topped second-quarter earnings estimates.
Other AI infrastructure providers including data-center
operators IREN ( IREN ) and Applied Digital ( APLD ) also rose
more than 5% each. Neocloud company Nebius Group ( NBIS ) jumped
9.5%.
Super Micro Computer ( SMCI ) advanced 9.2% after the
AI-server maker forecast fiscal 2027 revenue above Wall Street
expectations.
The earnings underscore robust AI-related demand as Wall
Street giants continue to spend billions to scale up AI
infrastructure. Overall, current-quarter results have painted an
upbeat picture of corporate America, helping lift the S&P 500
and the Dow to record highs.
Most megacap and growth stocks traded higher on Wednesday,
with Nvidia ( NVDA ) rising 1.1%.
Among others, Cava Group ( CAVA ) surged about 12% after the
restaurant chain beat Wall Street expectations for
second-quarter sales and core profit.