S&P 500 e-minis rise after Oracle gains, PPI data 

S&P 500 E-MINIS RISE AFTER ORACLE GAINS, PPI DATA

S&P 500 e-minis ES1! and Nasdaq futures NQ1! are up on Wednesday, adding to gains after a cooler-than-expected U.S. producer price index report, while shares of Oracle (ORCL.O) are up more than 30% in premarket trading.

Late Tuesday, Oracle said it expected booked revenue at its Oracle Cloud Infrastructure business to exceed half a trillion dollars. Other technology names are also higher before the bell.

Investors also are digesting data showing U.S. producer prices unexpectedly fell in August, pulled down by a decline in the costs of services. The PPI for final demand dipped 0.1% after a downwardly revised 0.7% jump in July, the Labor Department's Bureau of Labor Statistics said on Wednesday. Economists polled by Reuters had forecast the PPI would advance 0.3% after a previously reported 0.9% surge in July.

The data arrives ahead of the more closely watched U.S. consumer price data on Thursday. Investors are anxious to see how much tariffs are affecting consumer inflation.

The U.S. central bank is expected to cut interest rates next Wednesday, with a 25 basis-point cut fully priced in, after pausing its easing cycle in January because of uncertainty over the impact of President Donald Trump's sweeping tariffs.

Here is the early market snapshot:

(Caroline Valetkevitch)

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