S&P 500 futures rose Wednesday, boosted by a positive forecast from Oracle, as traders weighed the release of new inflation data.

Futures tied to the broad benchmark added 0.5%, as did Nasdaq 100 futures. Futures tied to the Dow Jones Industrial Average hovered around the flatline.

Shares of Oracle surged more than 30% after the tech old guard reported that multicloud database revenue from Amazon, Google and Microsoft grew at the eye-popping rate of 1,529% in its last quarter, fueled by demand for AI servers. Investors were encouraged by the upbeat cloud forecast even as the latest earnings fell short.

“We signed four multi-billion-dollar contracts with three different customers in Q1,” Oracle CEO Safra Catz said. “It was an astonishing quarter — and demand for Oracle Cloud Infrastructure continues to build.”

Nvidia and AMD were also higher in the premarket, as investors appeared to pile into the artificial intelligence trade once again.

Market sentiment was boosted following the latest producer price index reading, which showed that wholesale prices unexpectedly fell 0.1% in August. Economists polled by Dow Jones had estimated a 0.3% gain. Core PPI, which excludes food and energy prices, also declined 0.1%, above/below the Dow Jones forecast for 0.3%.

Eyes will now turn to Thursday’s more closely watched consumer price index reading for more insight on the state of inflation in the U.S. economy.

Economists similarly expect the CPI report to show monthly increases of 0.3%, according to Dow Jones. This includes the headline all-items index as well as the core reading that excludes volatile food and energy prices. If this materializes, the annual headline CPI rate would be pushed up to 2.9%, though the core reading is expected to stay unchanged at 3.1%.

If these numbers come in around their estimates, all should go according to plan for the Federal Reserve to deliver another rate cut at its September meeting, said Art Hogan, chief market strategist at B. Riley Wealth Management.

“In general, the inflation news over the next couple of days would have to be remarkably hotter than anticipated for anything to change the narrative that we’re getting a rate cut in September,” he said to CNBC.

Tuesday was a record-setting day on Wall Street, as all three major indexes notched new closing highs. The Nasdaq had also scored a fresh all-time intraday high during the trading session.