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Futures mixed: S&P 500 up 0.08%, Nasdaq down 0.05%, Dow up

0.18%

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Centene ( CNC ) tumbles after pulling 2025 forecast

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Verint Systems ( VRNT ) jumps after report of Thoma Bravo buyout

talks

(Updates with prices)

By Sruthi Shankar and Nikhil Sharma

July 2 (Reuters) -

Wall Street stock index futures were subdued on Wednesday as

investors weighed U.S. trade negotiations ahead of President

Donald Trump's July 9 tariff deadline and awaited payrolls data

for hints on the monetary policy path.

The Nasdaq and the S&P 500 closed lower in

the previous session, pausing after a record run driven by

optimism about the U.S. striking trade deals with its key

partners as well as expectations of deeper interest-rate cuts to

come.

Trump said on Tuesday he was not thinking of extending the

July 9 deadline for imposing tariffs and expressed doubts that

an agreement could be reached with Japan, although he said he

expected a deal with India. The European Union's trade chief is

expected to hold talks this week with peers in Washington.

Tech stocks came under selling pressure a day earlier as

Treasury yields climbed after data showed stronger-than-expected

job openings in May, signaling a resilient labor market and

underlining the U.S. Federal Reserve's stance of being patient

about lowering borrowing costs.

"For now, the most reasonable scenario is that inflation

will start to rise, and the data is pointing in that direction.

That message is finally - if slowly - sinking in, even among

some of the Fed doves," said Ipek Ozkardeskaya, senior analyst,

Swissquote Bank.

Traders are pricing in about 64 basis points worth of

rate cuts this year from the Fed, with the odds of the first

reduction in July at 19.1%, according to data compiled by LSEG.

Focus now turns to the monthly non-farm payrolls report,

scheduled for release on Thursday - a day earlier than usual, as

markets are closed on Friday for Independence Day. The reading

is expected to show U.S. job growth cooled in June and the

unemployment rate ticked up to 4.3%, according to a Reuters poll

of economists.

ADP's private payrolls data for June is due at 08:15 a.m.

ET.

Meanwhile, U.S. Senate Republicans passed Trump's massive

tax-and-spending bill on Tuesday by the narrowest of margins,

advancing a package that would slash taxes, reduce social safety

net programs and boost military and immigration enforcement

spending, while adding $3.3 trillion to the national debt.

The legislation now heads to the House of Representatives

for possible final approval, although a handful of Republicans

have already opposed some of the Senate provisions.

By 7:00 a.m. ET (1100 GMT), S&P 500 E-minis were up

4.75 points, or 0.08%, Nasdaq 100 E-minis were down

12.25 points, or 0.05%, and Dow E-minis were up 79

points, or 0.18%.

The blue-chip Dow closed 1.3% below its record high

touched in December.

Among single stocks, Centene ( CNC ) tumbled 26.6% premarket

after the health insurer said it had withdrawn its 2025 earnings

forecast after data showed a significant drop in expected

revenue from its marketplace health insurance plans.

Shares of peers including Elevance Health ( ELV ) and

UnitedHealth ( UNH ) dipped 3.7% and 1.1%, respectively.

U.S. banking giants including JPMorgan Chase ( JPM ), Bank

of America ( BAC ) and Wells Fargo ( WFC ) edged higher after

announcing plans to raise their third-quarter dividends after

clearing the Fed's annual health check last week.

Verint Systems ( VRNT ) soared 10.8% after Bloomberg News

reported buyout firm Thoma Bravo was in talks to buy the

call-center software maker.