Futures flat ahead of key inflation data

[September 14, 2017]  By Sruthi Shankar

(Reuters) - U.S. stock index futures were little changed on Thursday ahead of key inflation data that could impact the Federal Reserve's decision on the timing of another interest rate hike this year.

* A Labor Department report is likely to show core consumer price index (CPI), which excludes food and energy, inched up 0.2 percent in August, slightly more than in July.

* Still, the 12-month core CPI is likely to have fallen to 1.6 percent from 1.7 percent. Both consumer prices and personal consumption expenditures, the Fed's preferred inflation measure, remain stuck below its 2-percent target.

* Another report, also due at 8:30 a.m. ET (1230 GMT), is likely to show jobless claims jumped by 2,000 to 300,000 last week.

* In the prior week, claims swelled 62,000 to a two-year high due to a surge in applications after the hurricane in Texas, but the underlying trend remained consistent with a firming jobs market.

* Despite the tightening labor market, inflation remains tame posing a conundrum for the central bank as it contemplates tightening monetary policy further.

* The consumer price inflation data is the last to be released before the Fed's Sept. 19-20 policy meeting, where it is expected to outline a program to start offloading its $4.2 trillion balance sheet.

* Wall Street edged up to a record high on Wednesday as gains in consumer discretionary and energy stocks offset losses in technology heavyweight Apple, which fell on concerns of its new iPhone X.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 8, 2017. REUTERS/Brendan McDermid

* Shares of Tenet Healthcare  jumped 13 percent in premarket trading after Reuters reported the hospital operator was exploring strategic alternatives, including a sale.

* Pfizer rose 1.40 percent after the company and Astellas Pharma said their prostate cancer drug met the main goal in a late-stage trial.

* Hertz Global dropped 4.7 percent after Morgan Stanley downgraded the car rental company's stock.

Futures snapshot at 7:02 a.m. ET:

* Dow e-minis were down 5 points, or 0.02 percent, with 4,312 contracts changing hands.

* S&P 500 e-minis were down 1 points, or 0.04 percent, with 40,685 contracts traded.

* Nasdaq 100 e-minis were down 5.75 points, or 0.1 percent, on volume of 3,737 contracts.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D'Souza)

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