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Futures down: Dow 0.22%, S&P 500 0.12%, Nasdaq 0.01%

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University of Michigan consumer sentiment survey due at 10

am ET

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Adobe raises annual profit and revenue forecasts, shares

gain

(Updates prices, adds quote)

By Purvi Agarwal and Ragini Mathur

Sept 12 (Reuters) -

Wall Street futures eased on Friday after the three main

U.S. indexes scaled record highs in the previous session and

were on track to log gains in a week of economic reports that

solidified expectations for Federal Reserve interest rate cuts.

Wall Street on Thursday was boosted by a rally in shares of

Tesla and Micron Technology ( MU ), while a monthly

inflation report kept the U.S. central bank on track to cut

rates next week.

Markets were already pricing in a 25 basis point easing in

monetary policy after a series of recent indicators had shown

that the labor market was worse than previously thought.

The bleak August nonfarm payrolls, however, brought up bets

on a bigger 50-bps cut, that currently stand at 7.3%, CME's

FedWatch tool showed.

After the inflation data, market pricing now reflects

expectations for three quarter-point cuts - one at each

remaining Fed meeting this year.

"Markets are pricing in a near certainty that the Fed

will cut its policy rate on Wednesday, and are pretty sure this

is the first of a few cuts," said Brian Jacobsen, chief

economist at Annex Wealth Management.

"Don't expect any clear signal from the Fed that it

intends on starting a sequence of cuts. It will likely want to

at least say it is going to keep its options open."

Next in the line is a preliminary reading of the University

of Michigan's consumer sentiment survey, which is due at 10.00

a.m. ET.

At 7:14 a.m. ET, Dow E-minis were down 103 points,

or 0.22%, Nasdaq 100 E-minis were lower 3.5 points, or

0.01% and S&P 500 E-minis were down 8 points, or 0.12%.

The Nasdaq and the S&P 500 are poised to record gains

for the second consecutive week in September, largely helped by

a revival in artificial intelligence trade after cloud computing

giant Oracle's upbeat forecast on Tuesday.

It sparked a rally in AI-linked semiconductors and utilities

companies powering data centers earlier in the week, setting up

the S&P 500 information technology sector to

outperform peers this week.

The indexes are in the positive territory for September so

far - a month that is deemed bad for U.S. equities historically,

where the benchmark S&P 500 has shed 1.5% on average since 2000,

data compiled by LSEG showed.

Among stocks, Warner Bros Discovery ( WBD ) was 5.5% higher

in premarket trading, extending Wednesday's over 28% gains, as a

source said Paramount Skydance ( PSKY ) was preparing a bid for

the Hollywood studio.

Photoshop-maker Adobe gained 2.9% after raising its

annual profit and revenue forecasts.

Microsoft ( MSFT ) inched up 1.1% after it reached a

non-binding deal with OpenAI to allow it to restructure itself

into a for-profit company.

Super Micro Computer ( SMCI ) rose 5.4% after the AI server

maker began volume shipments of Nvidia's ( NVDA ) blackwell

ultra systems.