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

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

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ISM May PMI data due at 10 a.m. ET

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Nvidia ( NVDA ) up as next-gen AI chip platform to be rolled out in

2026

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GameStop ( GME ) soars after Keith Gill's Reddit post shows $116

mln bet

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Futures up: Dow 0.01%, S&P 0.18%, Nasdaq 0.45%

(Updated at 7:11 am ET/1111 GTM)

By Lisa Pauline Mattackal and Johann M Cherian

June 3 (Reuters) - Nasdaq futures led Wall Street gains

on Monday and were on track to begin June's first trading day on

a positive note as megacap growth stocks inched up, recovering

some ground after closing Friday's session in the red.

Megacap stocks including Apple ( AAPL ), Meta and

Alphabet gained between 0.3% and 0.4% in premarket

trading, buoyed by a dip in U.S. Treasury note yields.

Artificial intelligence leader Nvidia ( NVDA ) jumped 2.7%.

Chief executive Jensen Huang said on Sunday the company's

next-generation AI chip platform would be rolled out in 2026.

The technology sector closed slightly lower on

Friday as investors rebalanced their month-end portfolios.

However, despite the S&P 500 and the Nasdaq

snapping their five-week winning streaks on Friday, all three of

Wall Street's main indexes ended May with strong gains.

The S&P 500 rose 4.8%, the Dow climbed 2.3% and the

tech-heavy Nasdaq rose nearly 7% last month, as strong earnings

and hopes of easing monetary policy buoyed Wall Street's biggest

stocks.

Investors increased bets on a September start to

interest-rate cuts by the Federal Reserve on Friday, according

to the CME's FedWatch tool, after inflation indicated a

potential cooling of price pressures as measured by the Personal

Consumption Expenditures Price Index.

"Solid earnings and the outlook of lower rates may keep risk

sentiment underpinned," analysts at Generali Investments said in

a note.

"That said, an advanced equity rally, depressed volatility

and elevated investor positioning in risk assets reflect a very

high degree of market optimism that keeps the risk of temporary

setbacks high."

Key economic data due this week, including surveys on the

manufacturing and services sector, factory orders and Friday's

closely watched nonfarm payrolls report, will provide additional

cues on the health of the U.S. economy.

May's reading of the Institute for Supply Management's

Manufacturing Purchasing Managers' Index is due later in the

day.

At 7:11 a.m. ET, Dow e-minis were up 3 points, or

0.01%, S&P 500 e-minis were up 9.75 points, or 0.18%,

and Nasdaq 100 e-minis were up 83 points, or 0.45%.

Among others, shares of GameStop ( GME ) soared 85.3% after

a weekend Reddit post from stocks influencer Keith Gill, also

known as "Roaring Kitty," showed a $116 million bet on the

gaming retailer.

Other so-called meme stocks such as AMC and

Tupperware rose 27.5% and 10.3%, respectively, while

retail-focused brokerage Robinhood gained 2.9%.

Chipmaker Advanced Micro Devices rose 1.6% after it

unveiled its latest AI processors at an industry event and

detailed plans to take on competitor Nvidia ( NVDA ).

Paramount Global ( PARAA ) shares gained 6.8% after a report

on Sunday said Skydance Media had sweetened its buyout offer for

the company to $15 per share.

U.S.-listed shares of Arm Holdings added

2.3% after the UK chip designer said it expects 100 billion of

its devices worldwide to be ready for artificial intelligence by

the end of next year.

Waste Management

will buy medical waste disposal company

Stericycle ( SRCL ) in a deal valued at $7.2 billion, the

companies said, sending shares of the bigger firm down

1.3

% in choppy trading.