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

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

*

Nio falls after logging Q1 net loss

*

Lululemon up on topping quarterly estimates on China

demand

*

Nvidia ( NVDA ) poised to extend gains after overtaking Apple ( AAPL )

*

Futures: Dow down 0.05%, S&P up 0.01%, Nasdaq up 0.09%

(Updated at 7:08 a.m. ET/1108 GMT)

By Lisa Pauline Mattackal and Johann M Cherian

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 1.5%, 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.

"We anticipate the semiconductor-led AI rally will

broaden in the second half of this year and beyond, and we

continue like big tech and key AI segments such as GPUs, custom

chips and foundries, and semi-cap equipment," analysts at UBS

wrote in a note.

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 7:08 a.m. ET, Dow e-minis were down 18 points,

or 0.05%, S&P 500 e-minis were up 0.5 points, or 0.01%,

and Nasdaq 100 e-minis were up 17.75 points, or 0.09%.

Among others, Lululemon Athletica ( LULU ) leapt 8.2% after

beating expectations for first-quarter profit and revenue on

Wednesday, as its China-based business helped offset slowdowns

in North America.

U.S.-listed shares of Nio dropped 7.2%

after the Chinese electric vehicle maker posted a quarterly net

loss and said it expected its EV deliveries in the second

quarter to more than double from a year ago.

Victoria's Secret lost 1.8% after posting lower

first-quarter profit and revenue after markets closed Wednesday.

Five Below ( FIVE ) slumped 15.8% after the discount store

operator trimmed its annual net-sales forecast.

Sealed Air ( SEE ) rose 1.4% after brokerage Mizuho upgraded

the stock to "buy" from "neutral".