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August CPI at 0.4% MoM versus 0.3% estimated

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Oracle extends gains after near 36% jump on Wednesday

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Futures up: Dow 0.16%, S&P 500 0.18%, Nasdaq 0.24%

(Updates after inflation data)

By Purvi Agarwal and Shashwat Chauhan

Sept 11 (Reuters) - Wall Street's main indexes were set

for a subdued open on Thursday after the latest inflation

reading kept the U.S. central bank on track to deliver an

interest rate cut later this month.

U.S. consumer prices rose

more than expected

in August and the annual increase in inflation was the

largest in seven months.

Still, traders firmed interest rate cut bets following

the data, with rates futures pointing to four straight

quarter-point cuts through January.

The data follows last month's producer inflation

numbers, which fell unexpectedly, and a series of economic

indicators have pointed to continued labor market weakness that

had investors already pricing in at least 25 basis points in

cuts next week.

"Inflation is firming, not as much as we expected, but

firming nonetheless ... in a way, that the market can digest

it," said Gary Schlossberg, global strategist at Wells Fargo

Investment Institute.

"We're not looking for a jumbo cut as some had expected

...(the data) may temper the market's enthusiasm for big cuts,

but it (does not) really change the trajectory at the margin."

Separately, weekly jobless claims came in higher than

expectations.

At 08:47 a.m. ET, Dow E-minis were up 72 points, or

0.16%, S&P 500 E-minis were up 11.5 points, or 0.18% and

Nasdaq 100 E-minis were up 58 points, or 0.24%.

The S&P 500 and the Nasdaq notched record high closes on

Wednesday, partly helped by a nearly 36% surge in Oracle

after an upbeat forecast that brought the cloud

computing company closer to joining the trillion-dollar club.

It revived the AI trade on Wednesday, sparking a rally in

artificial-intelligence-linked chip and utility companies

supplying power to data centers.

Oracle rose 1.5% in premarket trading on Thursday.

Wall Street's three main indexes have had a broadly

positive start to September - a month that is deemed bad

historically for U.S. equities. In the month, the benchmark S&P

500 has shed 1.5% on average since 2000, data compiled by LSEG

showed.

Gun stocks climbed before the bell, extending their rally

from the previous session after conservative activist Charlie

Kirk was shot dead at a university in Utah on Wednesday.

Sturm Ruger & Co ( RGR ) gained 3.1% and Smith & Wesson

Brands ( SWBI ) was up 2.8%.

Stocks linked to ether rose, tracking gains in the

cryptocurrency. Sharplink Gaming ( SBET ) advanced 1.1% and

Bitmine Immersion Technologies was 3.4% higher.

Centene ( CNC ) jumped 12.4% as the health insurer said its

results through August are consistent with its previous guidance

for a full-year profit.

Micron Technology ( MU ) gained 5% after Citigroup raised

its price target on the stock to $175 from $150.