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Bumble slides after slashing FY revenue growth forecast

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Robinhood rises after Q2 earnings beat

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US weekly jobless claims fall more than expected in latest

week

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Futures up: S&P 500 0.90%, Nasdaq 1.26%, Dow 0.44%

(Updated at 8:43 a.m. ET/1243 GMT)

By Shubham Batra and Shashwat Chauhan

Aug 8 (Reuters) - Wall Street was set to open higher on

Thursday, bolstered by better-than-expected jobs data that eased

worries of a slowdown in the world's largest economy.

A Labor Department report showed on Thursday the number of

Americans filing new applications for unemployment benefits came

in at 233,000 for the week ended Aug. 3, compared with an

estimate of 240,000 as per economists polled by Reuters.

Megacap and growth stocks rose in premarket trading,

looking to stabilize after a freefall on Monday as disappointing

labor data last week sparked fears of a potential recession.

"Since the jobs report on Friday, everyone's been

nervous about a recession ... The claims came in lower than

expected, alleviating some of the fear that the labor market was

completely rolling over," said Thomas Hayes, chairman at Great

Hill Capital LLC.

"We have a reasonably robust economy and not an imminent

recession, so we can wait a few more weeks for that final first

cut from the Fed."

Money markets currently see a 70.5% chance of a

50-basis-point rate cut by the Federal Reserve in September,

with the possibility of two more cuts by the end of 2024,

according to CME's FedWatch Tool.

The yield on the U.S. 10-year Treasury note

rose slightly after the jobless claims data.

At 8:43 a.m. ET, S&P 500 futures were up 47

points, or 0.9%, Nasdaq 100 futures were up 226 points,

or 1.26% and Dow futures were up 172 points, or 0.44%.

Global markets are still recovering from the rout earlier

this week amid heightened volatility this week. Earlier in the

day, J.P.Morgan raised the odds of a U.S. recession by the end

of this year to 35% from 25%, citing easing labor market

pressures.

The Nasdaq closed 1% lower in the previous

session, as tech stocks lost steam after a brief rebound

following a global stocks rout, and weak demand in a 10-year

Treasury auction.

Markets will now focus on comments from Richmond Fed

President Thomas Barkin, who will be speaking at 3 p.m. ET, for

any clues on the U.S. central bank's next move.

The CBOE Market Volatility Index, also known as Wall

Street's "fear gauge", was at 25.82 points, up from Wednesday's

low of 21.97.

On the earnings front, Eli Lilly ( LLY ) jumped 12.7% after

the drugmaker raised its annual profit forecast, and sales of

its popular weight-loss drug Zepbound crossed $1 billion for the

first time in a quarter.

Bumble slashed its annual revenue growth forecast,

stoking worries about the dating app operator's growth plans,

sending its shares down 40.6% in premarket trading. Rival Match

Group ( MTCH ) also fell 2.8%.

Warner Bros Discovery ( WBD ) dropped 10.3% after it wrote

down the value of its TV assets due to the uncertainty of fees

from cable and satellite distributors and sports rights

renewals.

Monster Beverage ( MNST ) lost 6.6% after the energy drinks

maker missed market expectations for second-quarter sales as

budget-conscious consumers kept a tight lid on spending.

Robinhood added 7.7% after the retail trading app

beat Wall Street expectations for second-quarter earnings, as

interest in meme stocks and cryptocurrencies soared, and said it

continued to gain retail trading market share from rivals.