DJIA up 1.75 points (Il Sole 24 Ore Radiocor) - New York, 17 Jun - US shares were trading slightly higher at midday to kick off a holiday-shortened week that is likely to take its cue from economic data and Fed talk.

Interest rates continue to be the main focus of interest after the Federal Reserve indicated there would probably be just one rate cut this year, instead of a previously signalled three, as inflation continues to come down slowly.

Stubborn inflation has prompted the Fed to put back the timetable for rate cuts and prompted traders to recalculate their expectations for the number of cuts this year.

On Sunday Minneapolis Fed President Neel Kashkari said it was reasonable to expect the US central bank would wait until December to cut rates.

Investors will be keeping a close eye on a string of Fed policymakers due to speak during the week as well as data on retail sales, housing starts and US business activity.

US markets will be closed on Wednesday for the Juneteenth holiday.

On the stocks front, the earnings week features a Lennar update after market close today and Kroger, Smith & Wesson and KB Home later in the week.

Shares in Autodesk were up 4.4% after a media report Starboard Value had a stake of around 500 million dollars in the design-software maker and was looking for changes.

At 1611 GMT, the Dow Jones was gaining 1.75 points, or 0.00%, at 38,590.91 points.

The S&P 500 was 6.32 points, or 0.12%, higher at 5,437.92 points.

The Nasdaq was up 20.72 points, or 0.12%, at 17,709.05 points.

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(RADIOCOR) 17-06-24 17:15:50 (0478) 5 NNNN