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Futures: Dow down 0.02%, S&P flat, Nasdaq up 0.10%

June 7 (Reuters) - U.S. stock index futures were little

changed on Friday, as investors awaited a crucial employment

report for confirmation that growing slackness in the U.S. labor

market meant the Federal Reserve has more room to reduce

interest rates.

The benchmark S&P 500 and the Nasdaq closed

Thursday's session slightly lower, dragged by falling technology

stocks despite touching intraday record highs in early

trading.

Some megacap technology stocks that took a hit in the

previous session were also slightly higher premarket, but

overall trading was subdued ahead of the May nonfarm payrolls

data, expected later in the day.

Economists polled by Reuters estimate that the U.S. economy

added 185,000 new jobs in May, with the unemployment rate

expected to hold steady at 3.9%.

Markets have struggled to anticipate the Fed's moves this

year. Expectations for early rate reductions as soon as March

dissipated quickly, as economic data indicated a tight labor

market and persistent price pressures.

However, Thursday's weekly jobless claims report was the

latest in a string of data suggesting the labor market is

easing, potentially giving policymakers more confidence that

they can ease rates while avoiding resurgent inflation.

"As always, the payrolls are a bit of a lottery, but the

last few days of labour market numbers confirm that we are on an

easing labour market trajectory," analysts at ING said in a

note.

Traders now see a 68% chance of a September rate reduction,

according to the CME's FedWatch tool, and have priced in about

two cuts this year, according to data from LSEG..

Fresh inflation data is due next week, just before the Fed

ends its two-day policy meeting on June 12. The central bank is

expected to hold rates steady, but traders will await updated

economic and policy forecasts for further clues on the timing

and pace of future cuts.

Chipmaker Nvidia rose slightly in premarket

trading, up 0.2% after losses in the previous session saw its

market valuation slipping below the $3 trillion mark, behind

that of Apple ( AAPL ), again making it the world's third-most

valuable company.

At 5:39 a.m. ET, Dow e-minis were down 6 points, or

0.02%, S&P 500 e-minis remained unchanged, and Nasdaq

100 e-minis were up 18.75 points, or 0.10%.

Among individual movers, GameStop's ( GME ) shares surged

33.2% premarket after stock influencer "Roaring Kitty" looked

set to mark his return to YouTube. His channel on the platform

showed an upcoming livestream scheduled for 12 p.m. ET on

Friday.

Other so-called meme stocks rose, with AMC Entertainment ( AMC )

and Koss Corp ( KOSS ) up 9.9% and 8.7%, respectively.

Retail-focused trading platform Robinhood gained 2.9%

Lyft shares rose 1.7% after markets closed on Thursday,

following a forecast of 15% annual growth in its gross bookings

through 2027.