Wall Street set for creating strong

U.S. Stocks were set to a higher start on Wednesday after a report on consumer prices indicated inflation was not yet a concern in the short term.
The consumer price index rose 0.4 percent in August, after showing no change in July. Analysts had expected the index to rise 0.3 percent last month.
The core CPI, which excludes volatile food and energy prices, rose 0.1 percent in August, in line with expectations.
S & P 500 rose 4.5 points in 1050, trading above fair value. The future of the Dow Jones Industrial Average rose 45 points in 9648.
Nasdaq futures gained 4.5 points to 1699.5, also trading above fair value reading.
The time to rally late Tuesday in commodity prices continued to boost the market and the materials sector in particular. Alcoa rose 2.2 percent to $ 14.30, after closing 8.1 percent to $ 13.99 Tuesday.
Energy stocks were also boosted after Anadarko Petroleum said it had made a major oil discovery outside Sierra Leone. Its shares rose 6.5 percent to $ 63.01 in pre-market trading.
Adobe Systems announced on Tuesday it would buy Omniture, the fastest growing advertising measurement company, for $ 1.8 billion in an effort to diversify its core business declines as software.
The all-cash deal creates an unlikely pair, and position measurement Adobe to integrate Omniture’s services in the web content designers to create with their software. Adobe shares fell 5.4 percent to $ 33.71, while Omniture soared 24.9 percent to $ 21.64.
Oracle, the software company, finished a team-building partnership with Hewlett-Packard, which is preparing the acquisition of Sun Microsystems, a rival HP. Oracle gained 0.4 percent to $ 22.76. HP was up 0.1 percent to $ 45.69 and Sun Microsystems gained 0.2 percent to $ 9.16.
Verizon Communications fell 1.9 percent to $ 30.40 after UBS downgraded the stock to "neutral" from "buy," saying the company was likely to lose their prospects for revenue growth of 2009.
Amazon.com was raised to "buy" from "neutral" by analysts at Bank of America, who said the biggest online retailer in the world would be able to maintain its position ahead of its rivals. Shares rose 2.3 percent to $ 85.48 before the markets open.
European shares were higher before the opening on Wall Street. The Eurofirst FTSE 300 index was 1.2 percent at 1004.23.
The Asian stock markets closed broadly positive, driven by a 2.6 percent increase in the Hang Seng in Hong Kong. But Chinese stocks lost 1.1 percent.
Bond yields were lower. The yield on two-year Treasury note fell 4 basis points to 0.895 percent, while the 10-year Treasury note fell five basis points to 3.4 percent.
The weaker dollar against major currencies in early trading in New York. The dollar index fell 0.2 percent.
Spot gold was trading up 0.9 percent to $ 1016.88 per ounce.
Oil prices were slightly lower in early New York trading. U.S. Crude oil prices fell 34 cents to $ 70.59 a barrel.