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Futures up: Dow 0.69%, S&P 0.28%, Nasdaq 0.56%

May 3 (Reuters) - U.S. stock index futures 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 5.8%, 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 13.5% 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.

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, losses on the back of stronger economic data such

as labor costs and some dour earnings from chipmakers in the

week have set all the three main stock indexes up 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 61.9% chance of the first interest rate

cut being delivered in September, while pricing in a greater

73.8% chance for November, according to CME FedWatch tool.

At 05:25 a.m. ET, Dow E-minis were up 266 points,

or 0.69%, S&P 500 E-minis were up 14.25 points, or

0.28%, and Nasdaq 100 E-minis were up 98.25 points, or

0.56%.

Block rose 7.1% 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 10.3% 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.