(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Futures: Dow down 0.04%, S&P down 0.03%, Nasdaq up 0.04%

June 6 (Reuters) - The S&P 500 and the Dow futures were

little changed on Thursday as investors awaited fresh data to

gauge the U.S. labor market strength, while the Nasdaq futures

inched higher as gains in AI-favorite Nvidia ( NVDA ) boosted optimism

around the tech sector.

A tech rally on Wednesday drove the S&P 500 and the

Nasdaq to all-time highs, as a string of weakening

economic data boosted bets that the Federal Reserve could start

easing policy sooner than previously expected.

Megacap tech stocks were the main driver of the rally, with

the tech sector gaining nearly 2.6% as Treasury yields

eased. Stocks including Meta Platforms ( META ), Microsoft ( MSFT )

and Apple ( AAPL ) were down between 0.04% and 0.3% in

premarket trading.

However, chip maker Nvidia ( NVDA ) was up 1.0%, after

crossing $3 trillion in market valuation in the previous session

that saw it overtake Apple ( AAPL ) as the world's second most valuable

company.

Gains in Nvidia ( NVDA ) and other AI-related players have been the

primary driver of Wall Street's recent rally, with the chipmaker

accounting for roughly a third of the S&P 500's over 12%

year-to-date gains, even as investors have grappled with worries

about higher-for-longer U.S. interest rates.

"The fact Nvidia ( NVDA ) is now worth more than Apple ( AAPL ) is striking

... there is a feeling that as long as Nvidia's ( NVDA ) share price is

rising, investors are happy and everything is fine on the

markets," said Russ Mould, investment director at AJ Bell.

On the macro front, May private payrolls data on Wednesday

suggested an easing in labor market tightness, ahead of the

crucial nonfarm payrolls report due Friday.

Traders now see a nearly 67% chance of a September rate

reduction, according to the CME's FedWatch tool, and have priced

in about two cuts this year, as per data from LSEG.

Forecasters polled by Reuters also expect two cuts, but

there is a significant risk that the Fed would opt for only one

or none at all.

Data on weekly jobless claims data and April's international

trade figures are due later on Thursday.

At 5:54 a.m. ET, Dow e-minis were down 17 points,

or 0.04%, S&P 500 e-minis were down 1.75 points, or

0.03%, and Nasdaq 100 e-minis were up 8.5 points, or

0.04%.

Among individual names, Lululemon Athletica ( LULU ) leapt

7.1% after beating expectations for first-quarter profit and

revenue on Wednesday, as its China-based business helped offset

slowdowns in North America.

Meanwhile, Victoria's Secret lost 2.5% after

posting lower first-quarter profit and revenue after markets

closed Wednesday.