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Chewy jumps after Keith Gill discloses stake

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Spirit AeroSystems ( SPR ) gains on Boeing ( BA ) takeover

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Manufacturing PMI on deck

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Futures up: Dow 0.19%, S&P 500 0.23%, Nasdaq 0.25%

(Updated at 8:33 a.m. ET)

By Ankika Biswas and Lisa Pauline Mattackal

July 1 (Reuters) - U.S. stock indexes were poised for a

higher open on Monday ahead of manufacturing PMI numbers, with

focus also on data later in the week for some evidence of a

weaker labor market to firm up bets around interest rate cuts by

the Federal Reserve.

Megacap stocks such as Alphabet, Microsoft ( MSFT )

and Amazon.com ( AMZN ) were up between 0.6% and 1% in

premarket trading.

However, AI chip firm Nvidia ( NVDA ) and other

semiconductor stocks such as Micron Technology ( MU ) and Arm

Holdings dipped between 0.3% and 1.1%.

Focus will be on ISM and S&P Global manufacturing PMIs due

after market open. This follows Friday's personal consumption

expenditures (PCE) price index, the Fed's preferred measure of

inflation, which was unchanged in May and underscored the

narrative of slowing inflation and resilient economic growth.

Also scheduled for the week are JOLTS job openings data on

Tuesday, and ADP employment, factory orders, ISM services PMI

data and minutes of the Fed's latest policy meeting on

Wednesday.

Non-farm payrolls data is due on Thursday, when trading will

be shut for equities on account of U.S. Independence Day.

"The market looks to start the second-half with more

tailwinds than headwinds ... we seem to be inching closer to a

place where the Fed will feel comfortable enough cutting rates

and that likely happens in September," said Art Hogan, chief

market strategist at B Riley Wealth.

Traders have largely stuck to their bets of around two

interest rate cuts this year, starting from September, according

to LSEG FedWatch.

Comments from New York Fed President John Williams are also

due later on Monday.

The Nasdaq and the benchmark S&P 500 notched their third

straight quarterly gains on Friday, with the tech-heavy index

doing so for the first time in three years.

As the top few heavily weighted stocks have largely

supported Wall Street's upward trajectory on optimism around

artificial intelligence and interest rate cuts, the blue-chip

Dow has lagged its peers with a quarterly decline.

Owing to the lack of broad-based gains, market participants

have highlighted concerns over the sustenance of such a skewed

rally, calling for the need of greater diversification in

investor holdings.

At 8:33 a.m. ET, Dow e-minis were up 76 points, or

0.19%, S&P 500 e-minis were up 12.75 points, or 0.23%,

and Nasdaq 100 e-minis were up 49 points, or 0.25%.

Spirit AeroSystems ( SPR ) gained 4.2% following Boeing ( BA )

's deal to buy back the fuselage supplier for $4.7 billion

in stock. Boeing's ( BA ) shares slipped 0.8%.

Chewy soared 11.8% after stock influencer Keith

Gill, also known as "Roaring Kitty", disclosed a 6.6% stake in

the pet products retailer.

Pet-focused company Petco Health and Wellness ( WOOF )

slipped 2.2% after early gains, while videogame retailer

GameStop ( GME ), another Gill stock favorite, slumped 6.9%.

Cryptocurrency-related stocks Coinbase Global ( COIN ), Riot

Platforms ( RIOT ), Marathon Digital ( MARA ) and MicroStrategy ( MSTR )

gained between 2% and 3% after bitcoin prices

jumped as much as 3% to a one-week high.