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Futures: Dow up 0.03%, S&P 500 up 0.51%, Nasdaq up 0.74%

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Alphabet gains after court ruling on Chrome browser

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Macy's soars after annual forecast hike

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July JOLTS due in the day

(Updates prices)

By Purvi Agarwal and Ragini Mathur

Sept 3 (Reuters) - Futures linked to the S&P 500 and

Nasdaq recovered on Wednesday after Alphabet gained on a

favorable antitrust ruling and investors awaited labor market

data that could influence the central bank's upcoming

interest-rate decision.

Alphabet jumped 6.2% in premarket trading after a

Washington judge ruled late on Tuesday Google will not have to

sell its Chrome browser, but will have to share data with

rivals.

Apple ( AAPL ) also gained 3.9% as the ruling allowed Google

to continue lucrative payments to the iPhone maker.

"This outcome removes a significant legal overhang and

signals that the court is willing to pursue pragmatic remedies

rather than scorched-earth tactics," said Matt Britzman, senior

equity analyst at Hargreaves Lansdown.

"That's a message the rest of Big Tech, many of whom face

their own antitrust battles, will be watching closely."

The Job Openings and Labor Turnover Survey report for July,

due at 10 a.m. ET, marks the first in a series of jobs

indicators expected this week that will culminate in Friday's

highly anticipated nonfarm payrolls data.

Federal Reserve Chair Jerome Powell's comments at Jackson

Hole earlier this month have put the focus squarely on labor

market weakness ahead of the central bank's rate decision on

September 17.

Following July's weak payrolls data and massive

revisions to previous reports collectively suggesting a cooling

labor market, investors are now pricing in a 91.2% chance of a

September rate cut, according to data compiled by LSEG.

At 07:14 a.m. ET, Dow E-minis were up 14 points, or

0.03%, Nasdaq 100 E-minis were up 172.75 points, or

0.74%, and S&P 500 E-minis were up 32.75 points, or

0.51%.

Wall Street closed sharply lower in the first trading

session of September, as yields on longer-dated Treasury notes

had spiked, pressuring equities.

Yields on the 30-year note hit a more than

one-month high on Tuesday after a court ruling last week deemed

most of U.S. President Donald Trump's tariffs illegal, reviving

some fiscal concerns. It touched 5% earlier on Wednesday and was

last at 4.972%.

September has been historically dour for U.S. equities, with

the index losing 1.5% in the month on average since the turn of

the century, according to data compiled by LSEG.

Department store operator Macy's soared 9.8% after

raising its annual forecasts, but discount retailer Dollar Tree

dropped 9.2% despite a forecast hike.

As earnings season winds down, investors are watching for

commentary on the holiday season shopping outlook to gauge the

health of the U.S. consumer. A survey by PwC showed U.S. holiday

spending this year was set for its steepest drop since the

pandemic.

Fed policymakers Alberto Musalem and Neel Kashkari are

scheduled to deliver speeches on the day, potentially offering

more clues on monetary policy direction.

In other moves, Zscaler ( ZS ) inched 1.1% higher after the

cloud security firm forecast annual revenue above estimates.

(Reporting by Purvi Agarwal and Ragini Mathur in Bengaluru;

Editing by Pooja Desai and Devika Syamnath)