(fxcue news) - Indian shares look set to open on a positive note Thursday, buoyed by a tech-driven rally on Wall Street overnight. A firmer dollar and a rebound in oil prices may limit overall gains to some extent. U.S. core inflation rose more than expected in August, dampening expectations for an outsized 50-bps Fed rate cut. The U.S. producer price index reading and initial jobless claims figures due later today could offer fresh insights into the central bank's interest rate plans, heading into next week's Federal Reserve meeting. Benchmark indexes Sensex and Nifty fluctuated before ending down around half a percent each on Wednesday. The rupee settled on a flat note at 83.98 against the dollar. Asian markets were broadly higher this morning, with Japanese markets climbing the most in nearly a month, buoyed by the yen's reversal from its strongest level against the dollar since December. The dollar held near a four-week high against the euro and gold was marginally higher, while oil extended overnight gains on expectations of supply disruptions in the wake of Hurricane Francine. U.S. stocks reversed course to end higher overnight as Brent crude prices rebounded from 3-1/2-year lows and a key inflation report signaled slowing price growth, bolstering expectations of a 25-bps rate cut at next week's FOMC meeting. The tech-heavy Nasdaq Composite surged 2.2 percent, the S&P 500 climbed 1.1 percent and the Dow inched up 0.3 percent. Data showed the consumer price index slowed to annual rate of 2.5 percent in August from 2.9 percent in July, marking the lowest figure since February 2021. The so-called core consumer price index, which strips out food and energy costs, came in higher than expected, rising 0.3 percent from July, the most in four months, and 3.2 percent from a year ago. European stocks ended mixed on Wednesday as investors looked ahead to ECB and Fed meetings for directional cues. The pan European STOXX 600 ended flat with a positive bias. The German DAX edged up 0.4 percent, while France's CAC 40 slipped 0.1 percent and the U.K.'s FTSE 100 dipped 0.2 percent.