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Futures up: Dow 0.19%, S&P 500 0.27%, Nasdaq 0.37%

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Three Fed speakers scheduled to speak on Wednesday

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American Eagle Outfitters ( AEO ) drops after withdrawing FY

forecast

(Updates before markets open)

By Shashwat Chauhan and Pranav Kashyap

May 14 (Reuters) - Wall Street's main indexes were set

to open higher on Wednesday after the week's strong start as

soft inflation data and the U.S.-China tariff truce boosted

sentiment, while Donald Trump's Gulf tour stoked expectations of

additional trade agreements.

U.S. stocks have been riding on optimism since the

weekend, when the United States and China decided to hit pause

on their fierce tariff dispute and signaled a joint effort to

stave off a global economic slowdown.

The U.S. will temporarily lower the extra tariffs it imposed

on Chinese imports to 30% from 145% for three months, while

Chinese duties on U.S. imports will fall to 10% from 125% in the

same period.

"While there are undoubtedly still uncertainties and

details to iron out with the trade negotiation with China, the

easing of tensions is apparently enough for the markets, which

are typically forward-looking and are pricing in an environment

where the U.S. and China are able to trade with each other,"

said Rick Gardner, chief investment officer at RGA Investments,

in e-mailed comments.

Tuesday's close saw the S&P 500 finally elbowing back

into positive territory for the year, a milestone not seen since

late February. However, the benchmark index has a lot of ground

to cover and is more than 4% off the record peaks it hit earlier

this year.

Both the S&P 500 and the tech-laden Nasdaq have

managed to recapture levels last seen before U.S. President

Donald Trump's April 2 "Liberation Day" tariff announcement,

which had cast a pall over a broad swathe of international

trade.

A 90-day pause announced on April 9 for countries other than

China, along with solid earnings reports and a limited U.S.-UK

trade agreement last week, helped the benchmark indexes claw

back.

The S&P 500 and the Nasdaq closed higher on Tuesday after

data showed U.S. consumer prices rebounded moderately in April,

with headline inflation rising 0.2%, compared with economists'

estimate of a 0.3% increase and versus a 0.1% drop in March.

At least three U.S. Federal Reserve officials including Fed

Governor Christopher Waller are slated to speak on the day. But

the main event of the week will be Fed Chair Jerome Powell's

public remarks on Thursday, which will be dissected for any

hawkish or dovish undertones.

At 08:29 a.m. ET, Dow E-minis were up 80 points, or

0.19%, S&P 500 E-minis were up 16 points, or 0.27%, and

Nasdaq 100 E-minis were up 79.25 points, or 0.37%.

Most megacap and growth stocks ticked up, with Nvidia ( NVDA )

leading the charge with a 3% jump. Other chip stocks

like Advanced Micro Devices ( AMD ) also rose in premarket

trading.

A number of U.S. technology firms announced

artificial-intelligence deals in the Middle East on Tuesday, as

Trump secured

$600 billion

in commitments to U.S. companies from Saudi Arabia during

his trip to the Gulf states.

On the other hand, American Eagle Outfitters ( AEO ) dropped

12.7% after the apparel company withdrew its annual forecasts,

citing economic uncertainty fueled by tariffs.

As earnings season comes to a close, results from retail

giant Walmart ( WMT ) will be on the radar later in the week.