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

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Futures: Dow up 0.01%, S&P 500 down 0.04%, Nasdaq down

0.02%

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Constellation Brands' ( STZ ) Q2 sales dip less than expected

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Trilogy Metals shares soar as US takes strategic stake

(Updates prices)

By Niket Nishant and Sukriti Gupta

Oct 7 (Reuters) - U.S. stock index futures were subdued

on Tuesday as investor fatigue set in a day after the S&P 500

and the Nasdaq hit record closing highs, with focus now shifting

to a slate of Federal Reserve speakers for policy signals.

Equities have been climbing despite concerns over stretched

valuations, and reduced certainty around data after the federal

government shutdown entered its seventh day, leaving markets

vulnerable to a pullback.

"Stocks have rallied hard off the April lows and skipped

past the usual August-September weakness. So if we do see a

pullback in the fourth quarter, that could actually be a healthy

reset," wrote Bret Kenwell, U.S. investment analyst at eToro.

At 06:49 a.m. ET, Dow E-minis were up 3 points, or

0.01%, S&P 500 E-minis were down 2.75 points, or 0.04%,

and Nasdaq 100 E-minis were down 5.5 points, or 0.02%.

Still, the decline may prove temporary as optimism around

artificial intelligence and expectations of looser monetary

policy persist.

Traders expect the Federal Reserve to cut interest rates by

25 basis points at its meeting later this month, due to a string

of reports from last week suggesting labor market softening.

To be sure, these reports typically carry less weight

than key official data such as nonfarm payrolls, but are

expected to serve as the Fed's best available option to fill the

data gap left by the government shutdown.

"The absence of data will keep the Fed on a glide path for

rate cuts with an improvement in labor data needed to shake the

policymaking committee off its dovish course," said Chris Hodge,

head U.S. economist at Natixis.

Investors are also watching the Fed commentary more closely

to help with portfolio positioning and some analysts expect the

upcoming earnings season will also grab focus, with forecasts

and executive commentary likely to carry more weight in shaping

expectations.

Fed Vice Chair for Supervision Michelle Bowman, Atlanta Fed

President Raphael Bostic, Fed Governor Stephen Miran and

Minneapolis Fed President Neel Kashkari are scheduled to speak.

Some analysts say the blackout will sharpen focus on the

upcoming earnings season, with forecasts and executive

commentary likely to carry more weight in shaping economic

expectations.

Among stocks, AMD inched up 4.2% premarket after

analyst upgrades, following a 23.7% gain in the previous

session. The company bolstered the tech rally after unveiling a

chip-supply deal with OpenAI on Monday.

Corona beer maker Constellation Brands ( STZ ) gained 3.3%

after posting a smaller-than-expected drop in second-quarter

sales.

Tesla was down 0.6% ahead of an event where it is

expected to unveil a more affordable version of its best-selling

Model Y SUV.

IBM ( IBM ) shares advanced 5.4% after the company announced

a partnership with AI startup Anthropic.

U.S.-listed shares of Trilogy Metals nearly tripled

in value after the White House said it would acquire a 10% stake

in the company.