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Kashkari says appropriate to debate Sept rate cut - report

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Estee Lauder ( EL ) drops on downbeat FY profit forecast

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AMD up on plans to acquire ZT Systems for $4.9 bln

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Futures up: Dow 0.03%, S&P 500 0.12%, Nasdaq 0.14%

(Updated at 8:25 a.m. ET/ 1225 GMT)

By Shashwat Chauhan and Johann M Cherian

Aug 19 (Reuters) - Wall Street's main indexes were

poised to open largely unchanged on Monday after clocking their

best week of the year, while investors looked ahead to Federal

Reserve Chair Jerome Powell's speech at Jackson Hole for

rate-cut indications.

All three major indexes jumped last week as a set of

economic data, including a consumer price index reading and a

retail sales report, soothed investor concerns of a recession in

the world's largest economy.

Global markets suffered sharp losses earlier in the month

after a higher-than-expected increase in the U.S. unemployment

rate for July.

Goldman Sachs lowered the odds of the United States slipping

into a recession in the next 12 months to 20% from 25% following

the latest weekly jobless claims and retail sales reports.

At 08:25 a.m. ET, Dow E-minis were up 13 points, or

0.03%, S&P 500 E-minis were up 6.25 points, or 0.12% and

Nasdaq 100 E-minis were up 27.5 points, or 0.14%.

Minutes from the Fed's last policy meeting are due on

Wednesday and Powell will speak at the economic symposium in

Jackson Hole on Friday, with investors keeping an eye out for

any signs of acknowledgement of a rate cut in September.

"They're expecting Powell to perhaps signal suddenly the

Fed's upcoming actions. I'm not sure that will actually happen

but the entire market will be focused on the proceedings of the

Jackson Hole meeting," said Peter Andersen, founder of Andersen

Capital Management.

Minneapolis Fed President Neel Kashkari said the debate

about potentially cutting interest rates in September is an

appropriate one to have because of a rising possibility of a

weakening labor market, according to a report.

Over the weekend, Chicago Fed chief Austan Goolsbee said not

cutting rates next month could hurt the job market, while a

report showed San Francisco Fed President Mary Daly said it was

time to consider adjusting borrowing costs.

Traders currently see a 73.5% chance of the Fed cutting

interest rates by 25 basis points (bps) in September, compared

with an even split between a 50 and 25 bps cut seen a week ago,

according to the CME FedWatch Tool.

Investors are also awaiting comments from Fed Board Governor

Christopher Waller later on Monday.

Earnings from cybersecurity company Palo Alto Networks ( PANW )

, retailer Target ( TGT ) and home improvement chain

Lowe's are expected through the week.

Advanced Micro Devices ( AMD ) rose 2.6% after the chipmaker

said it plans to acquire server maker ZT Systems for $4.9

billion, to expand its portfolio of artificial intelligence

chips and hardware and compete better with Nvidia ( NVDA ).

Estee Lauder ( EL ) fell 1.9% after the cosmetics maker

forecast annual profit below expectations.

B. Riley Financial ( RILY ) slid 9.7% following a drop of

over 65% last week. Co-founder and co-CEO Bryant Riley had

offered to buy the bank on Friday, after it warned of a hit from

its investment in Vitamin Shoppe-owner Franchise Group.

(Reporting by Shashwat Chauhan and Johann M Cherian in

Bengaluru; Editing by Saumyadeb Chakrabarty and Devika Syamnath)