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Fed's Bowman says rates should remain steady for some time

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Nvidia ( NVDA ), other chip stocks recover

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Spirit AeroSystems ( SPR ) falls after report of Boeing ( BA ) deal

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Futures: Dow down 0.08%, S&P 500 up 0.21%, Nasdaq up 0.49%

(Updated at 7:21 a.m. ET/1121 GMT)

By Ankika Biswas and Lisa Pauline Mattackal

June 25 (Reuters) - Nasdaq futures outperformed peers on

Tuesday as Nvidia ( NVDA ) and other AI-linked stocks rose after a

bruising selloff, while investors awaited further cues on the

monetary policy path based on remarks by U.S. Federal Reserve

officials and fresh economic data this week.

AI chip firm Nvidia ( NVDA ) advanced 2.5% premarket after

losing nearly 13% and $430 billion in market value in the last

three trading days.

Peers Micron Technology ( MU ), Broadcom ( AVGO ) and

Qualcomm ( QCOM ) were up more than 1% each, while AI-optimized

server maker Super Micro Computer ( SMCI ) rose 1.7%.

The tech-heavy Nasdaq slumped more than 1% on Monday in

its steepest one-day fall since late April, as investors pulled

out of the AI-linked stocks in favor of other sectors.

At the start of the week, investors bought into sectors

including utilities and energy that have

underperformed technology and tech-adjacent stocks this year,

causing the Dow to hit a one-month high on Monday. Futures

tracking the blue-chip index edged lower on Tuesday.

Technology and other growth stocks have driven the S&P

500 and the Nasdaq to record highs this year, but the

value-focused Dow continues to significantly lag the other

indexes, causing some to raise concerns over the sustainability

of equity strength.

"The question investors now need to ask is if the

sell-off has gone far enough since the stock (Nvidia ( NVDA )) is in

correction territory, or if this is a structural shift lower,

that will weigh on the major U.S. indices and allow other

regions and indices to play catch up," said Kathleen Brooks,

research director at XTB.

Data on the personal consumption expenditures (PCE) price

index - the Fed's preferred inflation gauge - on Friday is at

the top of the watch list, while investors will also keep an eye

out for consumer confidence data during the day.

Fed Governor Michelle Bowman said inflation was still

elevated, and a steady policy rate was needed "for some time."

Fellow FOMC voting member Lisa Cook is also set to speak on

Tuesday.

Market participants see 61% odds of a 25-basis point

interest rate cut in September, and are eyeing around two cuts

by the end of the year, according to LSEG's FedWatch data.

A slew of quarterly corporate earnings are also scheduled

for the day, with cruise operator Carnival Corp ( CCL ) due

before market open and parcel delivery giant FedEx ( FDX ) after

the bell.

At 7:21 a.m. ET, Dow e-minis were down 31 points,

or 0.08%, S&P 500 e-minis were up 11.75 points, or

0.21%, and Nasdaq 100 e-minis were up 96.25 points, or

0.49%.

Among other major premarket movers, Spirit AeroSystems ( SPR )

dropped 3.4%. A report showed Boeing ( BA ) has offered

to acquire the airplane fuselage maker in a deal funded mostly

by stock that values its key supplier at about $35 per share.

Boeing ( BA ) shares slipped 1.1%.

Trump Media & Technology Group ( DJT ) rose 7.8% and was set

to extend Monday's strong gains. The company had announced it

expected $69.4 million in proceeds from cash exercise of

warrants.