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* Futures up: Dow 0.12%, S&P 500 0.25%, Nasdaq 0.65%
Aug 12 (Reuters) - U.S. stock index futures edged higher on
Wednesday ahead of a key inflation report that could influence
the Federal Reserve's monetary policy path, while upbeat
earnings from some AI infrastructure companies offered support.
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. 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," said Ipek
Ozkardeskaya, senior analyst at Swissquote.
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 Iran war
appeared to dim.
Inflation figures will be under heightened scrutiny as
investors assess the impact of the oil shock from the Middle
East conflict, which has ratcheted up the odds of interest-rate
hikes by global central banks later this year.
U.S. Federal Reserve Chair Kevin Warsh's stance on offering
muted forward guidance on rates also increases focus on each
data point. 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.
At 06:00 a.m. ET, Dow E-minis rose 64 points, or
0.12%, S&P 500 E-minis gained 19.25 points, or 0.25%,
and Nasdaq 100 E-minis were up 191.5 points, or 0.65%.
CoreWeave ( CRWV ) jumped 18.6% 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
9.3%.
Super Micro Computer ( SMCI ) advanced 9.1% after the AI
server maker forecast fiscal 2027 revenue above Wall Street
expectations.
The strong 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 more than 1%.
Among others, Cava Group ( CAVA ) surged 12% after the
restaurant chain beat Wall Street expectations for
second-quarter sales and core profit.