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Futures down: Dow 0.3%, S&P 500 0.3%, Nasdaq0.5%

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Futures tracking Russell 2000 down 0.6%

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Apple ( AAPL ) shares marginally down after quarterly results

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Gold and silver miners fall tracking metal prices

(Updates prices)

By Pranav Kashyap and Twesha Dikshit

Jan 30 (Reuters) -

U.S. stock index futures cut some losses on Friday, after

President Donald Trump

nominated

former Federal Reserve ‌Governor Kevin Warsh to head the

U.S. central bank.

Futures slid overnight, while the dollar and Treasury

yields climbed on Thursday ​following media reports that the

White House was preparing for Trump to nominate Warsh ‍as the

next Fed chair.

Reaction in financial markets was largely subdued ⁠after

Trump's announcement on ⁠Friday. Warsh is seen as a comparatively

moderate figure who is notably more cautious of deploying heavy

monetary stimulus despite ‌his preference for lower rates.

"In terms of ​the dollar impact, it's neutral and for

equity markets, it's also neutral," said Elias Haddad, global

head of markets strategy at Brown Brothers Harriman.

"He still ⁠favors lower rates, so that's supportive ‍for

risk assets. ​But on the other hand, he wants to significantly

reduce the Fed's balance sheet, which has been a big support for

this melt-up in asset prices," Haddad ‍said.

The nomination caps a months-long process that often

resembled a public audition as Warsh, White House economic

advisor Kevin Hassett and other top contenders, including

sitting Fed governor Christopher Waller and Wall Street insider

Rick Rieder, appeared regularly on television to showcase their

thoughts about the economy and Fed policy.

At 06:58 a.m. ET, Dow E-minis were down 130 ​points,

or 0.26%, S&P ‍500 E-minis were down 22.5 points, or

0.32%and Nasdaq 100 E-minis were down 118.5 points, or

0.46%.

Futures tracking the small-cap Russell 2000 index

, which is more ​sensitive to interest rates, fell 0.7%.

The CBOE volatility index - Wall Street's "fear gauge," was

near session lows at 17.80 points.

Indexes were whipsawed on Thursday with the Nasdaq falling

over 2%, before finishing 0.7% lower. The S&P also closed down

0.1% after falling over 1%.

Microsoft ( MSFT ) logged its worst day since March 2020

after its cloud revenue failed to impress, triggering a broad

tech sell-off on Wall Street on ​Thursday.

Its shares rose 0.6% in premarket trading.

Meanwhile, Apple ( AAPL ) forecast higher-than-expected

revenue growth of up to 16% for the March quarter, but warned

that rising memory chip prices had started to pressure

profitability.

The iPhone maker's shares were marginally ‍lower in premarket

trading.

(Reporting by Pranav Kashyap and Twesha Dikshit in Bengaluru;

Editing by Shinjini Ganguli)