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February nonfarm payrolls data due 8:30 a.m. ET

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Broadcom ( AVGO ) slips as FY forecast fails to impress

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Marvell ( MRVL ) falls on weak Q1 earnings forecast

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Futures down: Dow 0.21%, S&P 0.04%, Nasdaq 0.14%

(Updated at 6:58 a.m. ET/1158 GMT)

By Bansari Mayur Kamdar and Amruta Khandekar

March 8 (Reuters) - U.S. stock index futures slipped on

Friday following a sharp overnight rally on Wall Street, as

investors braced for a crucial labor market report that could

determine the path of interest rates.

The benchmark S&P 500 index closed at a record high on

Thursday after Fed Chair Jerome Powell said the central bank was

"not far" from gaining the confidence that inflation is falling

sufficiently to begin cutting interest rates.

Investors now await the closely watched U.S. jobs report at

8:30 a.m. ET that is likely to show job growth slowed in

February after two straight months of robust gains.

Nonfarm payrolls likely increased by 200,000 jobs last month

after surging 353,000 in January, according to a Reuters survey

of economists.

The unemployment rate is expected to remain unchanged at

3.7% for the fourth consecutive month, while wage growth is

anticipated to have slowed to 0.3% on a monthly basis.

"If the data is sufficiently soft - or ideally softer

than expected, the Fed doves will finish the week on a dominant

note. But if we see another month of blowout jobs report,

confusion will reign," said Ipek Ozkardeskaya, a senior market

analyst at Swissquote Bank.

However, if next week's consumer prices data is soft,

investors may still cling on to rate cut hopes, Ozkardeskaya

added.

Signs of persistent strength in the labor market could make

it difficult for the Fed to start cutting interest rates in June

as currently envisaged by investors.

At 6:58 a.m. ET, Dow e-minis were down 82 points,

or 0.21%, S&P 500 e-minis were down 2.25 points, or

0.04%, and Nasdaq 100 e-minis were down 26 points, or

0.14%.

AI darling Nvidia ( NVDA ) gained 2.8% in premarket trading,

outperforming megacap growth and technology peers.

Chip stocks such as Micron Technology ( MU ) and Intel ( INTC )

rose more than 1% each.

Broadcom ( AVGO ) slid 1.6% after the tech company's

full-year forecast failed to impress investors.

Shares of Marvell Technology ( MRVL ) shed 5.4% after it

forecast first-quarter results below market expectations on soft

demand in its wireless infrastructure, consumer and enterprise

markets.

Gap climbed 6.5% after the retailer beat Wall Street

expectations for fourth-quarter results, buoyed by strong demand

on improved product offerings at its Old Navy and namesake

brands during the holiday season, and lower markdowns.

Costco Wholesale ( COST ) shed 4.6% as quarterly sales

fell short of estimates due to tepid demand for higher-margin

goods.