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Futures down: Dow 0.4%, S&P 500 0.5%, Nasdaq 0.6%

Sept 2 (Reuters) - U.S. stock index futures fell on

Tuesday, after the Labor Day holiday, as investors awaited

crucial economic data in the week ahead that is expected to

shape the Federal Reserve's stance on monetary easing.

The August nonfarm payrolls report, due on Friday, is the

centerpiece of the week and will follow a monthly private

payrolls reading and job openings figures.

Markets are pricing in about a 90% chance of a

25-basis-point cut in interest rates at the Fed's meeting later

this month, according to the CME Group's FedWatch tool.

Investors' dovish tilt came after July's weak job report,

with Fed Chair Jerome Powell acknowledging the growing risks to

the labor market at the Jackson Hole symposium, helping the S&P

500 and the Dow log their fourth consecutive month of gains in

August.

The Nasdaq logged its fifth straight monthly gain last

month.

At 05:33 a.m. ET, Dow E-minis fell 178 points, or

0.39%, S&P 500 E-minis shed 31 points, or 0.48%, and

Nasdaq 100 E-minis were down 145.25 points, or 0.61%.

Yields on longer-dated U.S. Treasuries rose on Tuesday, with

those on the 10-year and 30-year notes

at their highest levels in more than a month, pressuring

equities.

The CBOE Market Volatility index also touched its

highest mark in more than three weeks and was last up 0.99

points at 17.11.

Hedge funds remained hesitant about buying U.S. stocks at

the outset of September, a seasonally dour month for markets,

according to Goldman Sachs data up to August 25.

The benchmark S&P 500 has lost 1.5% on average in September

- its worst month - since 2000, according to data compiled by

LSEG.

The rate-cut optimism overshadowed concerns about the Fed's

independence as U.S. President Donald Trump kept up attacks on

the central bank. Uncertainty over

artificial-intelligence-fueled trade also crept in after

quarterly updates from some AI-linked companies failed to

impress investors.

The markets will also focus on quarterly earnings from a

host of retailers, including Macy's and Dollar Tree

, to gauge the strength of the U.S. consumer as the

impact of Trump's tariffs on the economy starts to show.

U.S. manufacturing activity data for August is due after

markets open.

In stocks, gold miners gained in premarket trading after

bullion prices hit a record high. U.S.-listed shares of Harmony

Gold rose 6.2%, Kinross Gold gained 2.7% and

Newmont ( NEM ) added 1.5%.

Fortinet ( FTNT ) dipped 2.7% after Morgan Stanley

downgraded the cybersecurity firm's stock to "underweight" from

"equal-weight".

(Reporting by Purvi Agarwal in Bengaluru)