DJIA futures down 11 points (Il Sole 24 Ore Radiocor) - New York, 14 Aug - US futures are treading water ahead of crunch consumer price data that could open the way for an interest rate cut as early as next month.

Wall Street rebounded yesterday to post one of its best sessions this year after wholesale inflation data came in cooler than expected. The S&P 500 rose 1.7% The S&P 500 rose 1.7% to record its third-best day this year while the Dow ended up 1% and the tech-heavy Nasdaq 2.4%.

Consumer prices are expected to have risen 0.2% in July compared to June and 3% from the same month a year ago. Core prices, stripping out volatile food and energy, are expected to rise 0.2% and 3.2%, respectively.

With inflation slowing towards the Federal Reserve's 2% target, the market is overwhelmingly pricing in a first interest rate cut in September with more to come.

The latest BofA Global Fund Manager Survey released this week showed 93% of professional investors thought short-term rates would be lower in a year.

The Fed is looking to steer inflation towards its target without overly impacting economic growth. Recent GDP data indicated the US economy is slowing faster than expected, raising the spectre of a possible recession.

On the stocks front, shares in Kellanova were up nearly 8% in premarket trade after a press report said Mars is set to announce a deal worth nearly 30 billion dollars to acquire the foodmaker. Alphabet was lower following reports the Justice Department is mulling a possible breakup of Google while Southwest Airlines rose after activist investor Elliott Investment Management said it plans to launch a proxy battle.

Cisco Systems is due to report its quarterly earnings after the closing bell.

Futures on the Dow Jones were down 11.00 points, or 0.03%, S&P 500 futures were down 1.00 points, or 0.02%, while futures on the Nasdaq were 10.75 points, or 0.06%, lower.

AAA-Sje

(RADIOCOR) 14-08-24 13:42:12 (0314) 5 NNNN