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Tesla gains after Musk says will unveil Robotaxi in August

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Crypto stocks track bitcoin prices higher

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Futures up: Dow 0.03%, S&P 0.01%, Nasdaq 0.07%

(Updated at 7:25 a.m. ET/ 1125 GMT)

By Shashwat Chauhan and Shristi Achar A

April 8 (Reuters) -

Futures tracking Wall Street's main indexes were largely

muted on Monday after Treasury yields rose on rising bets that

the U.S. Federal Reserve could delay interest-rate cuts this

year.

Hawkish commentary from Fed officials throughout last week

and stronger-than-expected manufacturing and jobs reports

pointed to a resilient U.S. economy, taking the pressure off the

Fed to cut interest rates quickly.

U.S. stocks recorded weekly losses on Friday as traders

scaled back expectations of the central bank cutting rates in

June. They now see an about 51% chance of the first rate cut in

June, according to the CME FedWatch Tool, down from about 58% at

the beginning of last week.

The market has also pared back expectations for more than

three rate cuts this year, from three to four a few weeks ago,

according to LSEG data.

The yield on 10-year notes rose 4.4541%, its

highest level since last November, pressuring equities.

"While one should not attach too much importance to one

payroll report, particularly when the seasonal effects are

large, and there is still a lot of data to come between now and

the June meeting," Mohit Kumar, chief economist Europe at

Jefferies, said in a note.

"If the data remains robust we will have to rethink our

June call."

Investors will await comments from Chicago Fed President

Austan Goolsbee and his Minneapolis counterpart Neel Kashkari

later in the day for further policy directions.

The focus will also be on the March reading of the U.S.

Consumer Price Index (CPI), due later in the week, that is

expected to show a rise in headline inflation to 3.4%

year-on-year, from 3.2% in February.

Also on the radar is the release of minutes from the Fed's

latest meeting, where it stuck to its guidance of three rate

cuts this year.

First-quarter earnings' season will pick up pace this week,

with banking giants JPMorgan Chase ( JPM ), Citigroup ( C/PN ) and

Wells Fargo ( WFC ) scheduled to report towards the end of the

week.

Asset manager BlackRock ( BLK ) and Delta Air Lines ( DAL )

will also report their quarterly numbers this week.

Meanwhile, Wells Fargo ( WFC ) raised its year-end target for

the benchmark S&P 500 index to 5,535 - the highest among

Wall Street brokerages - from a prior forecast of 4,625​.

At 7:25 a.m. ET, Dow e-minis were up 11 points, or

0.03%, S&P 500 e-minis were up 0.75 points, or 0.01%,

and Nasdaq 100 e-minis were up 12.75 points, or 0.07%.

Tesla rose 1.9% in trading before the bell after

CEO Elon Musk said the company would unveil the Robotaxi on Aug.

8.

Cryptocurrency and blockchain-related stocks advanced,

tracking rising bitcoin prices. Exchange operator Coinbase

Global ( COIN ), crypto miner Marathon Digital ( MARA ) and

software firm MicroStrategy ( MSTR ) added between 6.1% and

11.6%.

U.S.-listed shares of Taiwan Semiconductor Manufacturing Co ( TSM )

gained 2.0% after the U.S. Commerce Department

said it would award the company's U.S. unit a $6.6 billion

subsidy for advanced semiconductor production in Phoenix,

Arizona.

Skyworks Solutions ( SWKS ) slipped 2.4% after KeyBanc

downgraded the Apple supplier to "sector weight" from

"overweight".

(Reporting by Shashwat Chauhan in Bengaluru; Editing by Anil

D'Silva and Pooja Desai)