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

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

*

Intel ( INTC ) gains on report Apollo offers investment

*

General Motors ( GM ) slips after report of Truist downgrade

*

Futures up: Dow 0.04%, S&P 500 0.10%, Nasdaq 0.17%

(Updated at 7:19 a.m. ET/1119 GMT)

By Johann M Cherian and Purvi Agarwal

Sept 23 (Reuters) - U.S. stock index futures were muted

on Monday, as investors awaited comments from a bunch of

policymakers and data to gauge the outlook for interest rates

and the economy's health, days after the Federal Reserve

commenced its easing cycle.

The Fed's pivotal move on monetary policy in the previous

week propped up Wall Street's main indexes for monthly gains,

bucking a historical trend where September has been a weak month

for equities on average.

Having rallied for much of the year, the S&P 500 is a

whisker away from an all-time high and the blue-chip Dow

closed at a record high on Friday. However, with the benchmark

index's valuations above its long-term average, some caution

prevails about further bids.

At 7:19 a.m. ET, Dow E-minis were up 17 points, or

0.04%, S&P 500 E-minis were up 6 points, or 0.10% and

Nasdaq 100 E-minis were up 34.75 points, or 0.17%.

Data on Friday showed equity fund managers raised their net

long positions in S&P 500 futures contracts in the week ended

Sept. 17.

A host of Fed officials are set to speak this week,

including Chair Jerome Powell on Thursday, as markets await

their outlook for monetary policy and insights on the state of

the economy, which most analysts believe is robust.

On Friday, Governor Christopher Waller flagged that

upcoming inflation data could undershoot the Fed's 2% target. On

the other hand, Michelle Bowman, who voted for a 25 basis point

reduction at the central bank's previous meeting, said price

pressures were still persistent.

On the day, Minneapolis President Neel Kashkari

supported the central bank's latest move and added that rates

could be

trimmed by another

half-a-percentage point by year-end.

Traders are pricing in November's rate cut to be a coin

toss, as per the CME Group's FedWatch tool, with odds slightly

favoring a 25 basis point reduction.

Remarks from Fed presidents Raphael Bostic and Austan

Goolsbee are also due later in the day.

"The Fed made a forceful case at its September meeting that

the U.S. economy remains on solid ground, with few signs of an

impending recession. However, markets are likely to remain

sensitive to weak economic releases," analysts at UBS said.

On the data front, a preliminary survey on September

manufacturing and services activity is on tap at 9:45 a.m. ET.

But the spotlight will be on Friday's personal consumption

expenditure figure for the month of August - the Fed's preferred

inflation gauge.

Among top movers, Intel ( INTC ) rose 3.4% in premarket

trading after a report showed Apollo offered to make an

investment of as much as $5 billion in the chipmaker.

General Motors ( GM ) slipped 2.4% after a report said

Truist Securities had downgraded the carmaker's stock to "hold"

from "buy".