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Deere falls on annual forecast cut

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Cisco ( CSCO ) gains after upbeat Q4 forecast

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Walmart ( WMT ) rises on annual forecast raise

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US weekly jobless claims fall

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Futures up: Dow 0.05%, S&P 0.08%, Nasdaq 0.10%

(Updated at 08:33 a.m. ET/ 1233 GMT)

By Bansari Mayur Kamdar and Shristi Achar A

May 16 (Reuters) - Wall Street's main indexes were

poised to open nearly flat on Thursday, a day after hitting

all-time highs as tepid consumer inflation data bolstered hopes

of interest-rate cuts.

All three major indexes notched record closes in the

previous session after a smaller-than-expected rise in consumer

inflation fueled optimism that inflation was easing after three

months of higher-than-expected numbers.

The market is back to betting on two quarter-point interest

rate cuts from the Federal Reserve this year, with traders

seeing a 72.6% chance of the first one in September, according

to the CME FedWatch Tool.

The Dow is on track to cross the 40,000-mark for the

first time, marking the blue-chip index's fastest 10,000-point

climb, powered by strong quarterly results and rising bets of

rate cuts.

"At these levels, the market needs to take a breather and

needs to rest," said Peter Cardillo, chief market economist at

Spartan Capital Securities.

"So it's very possible that maybe not today, but we are

approaching a level of consolidation, somewhat of a small

pullback and a sideways movement."

Markets will now focus on several Fed officials expected to

speak through the day, including Thomas Barkin, Loretta Mester,

Raphael Bostic, Patrick Harker and Michael Barr.

New claims for state unemployment benefits fell 10,000 to a

seasonally adjusted 222,000 for the week ended May 11, a Labor

Department report showed, pointing to underlying strength in the

labor market.

Among earnings updates, Walmart ( WMT ) advanced 6.2% in

premarket trading after the retail giant raised its fiscal 2025

sales and profit forecast, betting on easing inflation to

further boost demand for essentials.

Deere fell 5.5% after the farm equipment maker

trimmed its annual profit forecast for the second time.

Network equipment maker Cisco Systems ( CSCO ) rose 2.1%

after forecasting fourth-quarter revenue above Wall Street

expectations.

At 08:33 a.m. ET, Dow e-minis were up 19 points, or

0.05%, S&P 500 e-minis were up 4 points, or 0.08%, and

Nasdaq 100 e-minis were up 18.5 points, or 0.1%.

Most megacap growth and technology stocks climbed, with

Nvidia ( NVDA ) leading gains.

U.S.-listed shares of Chubb jumped 7.6% after Warren

Buffett's Berkshire Hathaway ( BRK/A ) revealed a stake worth

$6.7 billion in the insurer.

Popular meme stocks GameStop ( GME ) and AMC Entertainment ( AMC )

slid 8% and 5%, respectively.

They were set to extend Wednesday's losses that followed a

two-day rally sparked by the return of "Roaring Kitty" Keith

Gill, the central figure in the 2021 meme stock frenzy.