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Apple ( AAPL ) jumps after announcing record share buyback

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Expedia ( EXPE ) slides after trimming FY revenue growth forecast

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Futures up: Dow 0.76%, S&P 0.33%, Nasdaq 0.59%

(Updated at 7:00 a.m. ET/1100 GMT)

By Shristi Achar A and Shashwat Chauhan

May 3 (Reuters) - Futures tied to Wall Street's main

indexes gained on Friday, lifted by upbeat corporate updates

from Apple ( AAPL ) and Amgen ( AMGN ), while traders braced for a key jobs report

for a clearer outlook on the labor market and the interest rate

path.

Apple ( AAPL ) jumped 6.1%, outpacing other megacap stocks

in premarket trading after the iPhone maker unveiled a record

$110 billion share buyback program and beat modest expectations

for quarterly results and forecast.

Amgen ( AMGN ) climbed 14.4% as the biotechnology firm said

it was very encouraged after completing an interim analysis of

its mid-stage study of experimental weight-loss drug MariTide

and as it reported first-quarter earnings.

Shares of rival Eli Lilly ( LLY ) dipped 2%, while

weight-loss drug developer Viking Therapeutics ( VKTX ) shed

5.2%.

Sentiment also remained upbeat as investors weighed the U.S.

Federal Reserve's more dovish-than-expected interest rate

guidance in its latest policy meeting, causing U.S. stocks to

rally on Thursday.

However, stronger economic data such as labor costs and some

dour earnings from chipmakers in the week have set up all the

three main stock indexes for weekly losses.

Focus will now shift to the key nonfarm payrolls report for

April due at 8:30 a.m. ET, for a clearer picture of labor demand

in the U.S. economy and its impact on the monetary policy

trajectory.

The Labor Department's report is expected to show U.S. job

growth probably slowed to a still-solid clip in April, with

wages maintaining their steady rise.

"Fed Chair Jerome Powell probably achieved what he set out

to do, which is to beat the hawkish and dovish drums

simultaneously," Raffi Boyadjian, lead investment analyst at

forex broker XM, said.

"The April jobs report will be crucial in underscoring the

Fed's dovish narrative ... whether the labor market can continue

to churn out new jobs at a staggering pace without fuelling a

wage-price spiral is highly questionable."

Money markets see a close to 62% chance of the first

interest rate cut being delivered in September, while pricing in

a greater 73.5% chance for November, according to CME FedWatch

tool.

At 07:00 a.m. ET, Dow E-minis were up 290 points,

or 0.76%, S&P 500 E-minis were up 16.75 points, or

0.33%, and Nasdaq 100 E-minis were up 104.75 points, or

0.59%.

Block rose 7.4% after the Jack Dorsey-led payments

fintech firm lifted its full-year adjusted core earnings

forecast and revealed plans to add more bitcoins to its balance

sheet.

Expedia ( EXPE ) fell 10.4% after the online travel agency

cut its full-year revenue growth forecast as gross bookings were

hit by a drag in its vacation rental platform.

Fortinet ( FTNT ) dipped 8.3% after the cybersecurity firm

forecast second-quarter billings below Wall Street estimates.