WALL STREET OUTLOOK - Higher as oil prices ease; key inflation data eyed.

(From AFX Europe (Focus))

LONDON (AFX) - Leading shares are expected to edge higher at open, boosted by a further drop in oil prices this morning, but gains could be capped ahead of key inflation data, dealers said.

According to Finspreads, the DJIA will open around 20 points higher at 11,117, the S&P 500 up 1.8 at 1,270 and the Nasdaq 100 is seen 3 firmer at 1,497.

On the economic front, all eyes will be on the Producer Prices Index as the market attempts to second-guess the Federal Reserve's next interest move.

Analysts expect the index to rise by 0.5 pct in July from June, while the 'core rate', which excludes volatile food and energy …