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

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

*

Unemployment rate rises to 3.9%, wage gains moderate

*

Broadcom ( AVGO ) slips as FY forecast fails to impress

*

Marvell ( MRVL ) falls on weak Q1 earnings forecast

*

Futures up : Dow 0.06%, S&P 0.24%, Nasdaq 0.17%

(Updated at 8:42 a.m. ET/1342 GMT)

By Bansari Mayur Kamdar and Amruta Khandekar

March 8 (Reuters) -

Wall Street was set to open higher on Friday after data

showing a rise in the unemployment rate and moderation in wage

gains boosted expectations that the Federal Reserve could begin

cutting interest rates by the middle of this year.

U.S.

job growth

accelerated in February, with nonfarm payrolls increasing

by 275,000 jobs after rising 229,000 in January, according to

revised estimates. Economists expected an increase of 200,000

jobs.

The unemployment rate, however, rose to 3.9% in February

after holding at 3.7% for three straight months, while wage

growth slowed to 0.1% on a monthly basis.

"The key here is the wage growth (more) than anything

else, which came in very modest and well below expectations,"

said Paul Nolte, senior wealth adviser at Murphy & Sylvest.

"This feeds more into the inflation narrative than the

strong jobs data."

Traders now see an 81.1% chance of the central bank

cutting interest rates in June, compared to 74.4% before the

numbers, according to CME's FedWatch Tool.

At 08:42 a.m. ET, Dow e-minis were up 22 points, or

0.06%, S&P 500 e-minis were up 12.25 points, or 0.24%,

and Nasdaq 100 e-minis were up 30.5 points, or 0.17%.

The benchmark S&P 500 index closed at a record high on

Thursday after Fed Chair Jerome Powell said the central bank was

"not far" from gaining the confidence that inflation is falling

sufficiently to begin cutting interest rates.

AI darling Nvidia ( NVDA ) gained 2.6% premarket in

premarket trading, outperforming megacap growth and technology

peers.

Chip stocks such as Micron Technology ( MU ) and Intel ( INTC )

rose more than 1% each.

Broadcom ( AVGO ) slipped 0.6% after the tech company's

full-year forecast failed to impress investors.

Shares of Marvell Technology ( MRVL ) shed 5.7% after it

forecast first-quarter results below market expectations on soft

demand in its wireless infrastructure, consumer and enterprise

markets.

Gap climbed 8.6% after the retailer beat Wall Street

expectations for fourth-quarter results, buoyed by strong demand

on improved product offerings at its Old Navy and namesake

brands during the holiday season, and lower markdowns.

Costco Wholesale ( COST ) eased 3.9% as quarterly sales fell

short of estimates due to tepid demand for higher-margin goods.