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U.S. stock index futures up more than 1%

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April nonfarm payrolls beat estimates

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Apple ( AAPL ) slips as tariff costs weigh

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Chevron ( CVX ) falls after quarterly results

(Updates with prices before)

By Sruthi Shankar and Purvi Agarwal

May 2 (Reuters) -

U.S. stocks were set to open higher on Friday, as signs of a

de-escalation in the trade war with China and a strong jobs

report calmed concerns around the economic toll of tariffs.

Beijing said on Friday it was "evaluating" an offer from

Washington to hold talks over U.S. President Donald Trump's 145%

tariffs on China.

The tit-for-tat tariffs between the world's two largest

economies have kept investors on edge, with both sides unwilling

to be seen backing down in a trade war that has roiled global

markets and upended supply chains.

Further aiding the mood on Friday, data showed nonfarm

payrolls increased by 177,000 jobs in April, beating forecasts

for an increase of 130,000 jobs, according to economists polled

by Reuters. The unemployment rate stood at 4.2%, in line with

expectations.

"This is good employment data which suggests that the

economy remains strong," said Melissa Brown, managing director

of investment decision research at Simcorp.

"We could see these numbers go down as the impact of tariffs

really starts to make its way through the economy, but it's not

there yet."

At 08:58 a.m. ET, Dow E-minis were up 453 points, or

1.11%, Nasdaq 100 E-minis rose 217.25 points, or 1.09%,

and S&P 500 E-minis climbed 66 points, or 1.17%.

Trump's

reversal of some tariffs has helped U.S. stock indexes

recover from recent losses. The tech-heavy Nasdaq closed

on Thursday at levels last seen before April 2, dubbed

"Liberation Day", when the president unveiled massive global

tariffs.

Despite signs of reprieve on the trade front, the rapid

shifts in U.S. tariff policies have forced some companies to

warn of business impacts or pull earnings forecasts amid worries

of higher costs and a hit to economic growth.

Apple ( AAPL ) slid 2.7% in premarket trading after the

iPhone maker trimmed its share buyback program by $10 billion

and CEO Tim Cook told analysts that tariffs could add about $900

million in costs this quarter.

"Apple ( AAPL ) claimed the sort of earnings beat that was never

likely to win much favor... at a time when its products business

is fraught with uncertainty, it's not great that growth on the

services side has disappointed," said AJ Bell investment

director Russ Mould.

Amazon.com ( AMZN ) rose 1.5% after it forecast

second-quarter revenue largely above Wall Street estimates.

Oil giant Chevron ( CVX ) lost 1.1% after its quarterly

results, while Exxon Mobil ( XOM ) was up 1.4% after beating

first-quarter profit estimates.

Block slumped more than 22% after cutting its profit

forecast for 2025 and missing estimates for quarterly earnings,

as the payments firm grapples with muted consumer spending.

Airbnb ( ABNB ) dipped 2.9% after the vacation rental

platform forecast second-quarter revenue largely below Wall

Street estimates and signaled softening demand in the U.S.

(Reporting by Sruthi Shankar and Purvi Agarwal in Bengaluru;

Editing by Devika Syamnath)