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Futures down: Dow 0.07%, S&P 500 0.14%, Nasdaq 0.17%

May 30 (Reuters) - Wall Street futures slipped on

Friday, as investors took stock of an appeals court decision to

undo a prior ruling that had blocked most of U.S. President

Donald Trump's tariffs, heading into the last trading day of a

solid month for equities.

The S&P 500 and the Nasdaq are on pace for

their best monthly showing since November 2023, while the Dow

is also set for a near 4% monthly advance.

Stocks have seen immense volatility this month on Trump's

on-and-off tariff moves, though the S&P 500 has rebounded from

its April low and now sits about 4% lower from its all-time high

hit in February.

U.S. equities had initially rallied on Thursday when the

Court of International Trade ruled late on Wednesday to

effectively block most levies imposed since January, but did not

address some industry-specific tariffs.

However, a federal appeals court on Thursday temporarily

reinstated most of the tariffs and ordered the plaintiffs in the

cases to respond by June 5 and the administration by June 9.

"This week's courtroom drama has added another layer of

uncertainty to what was already an unsettling series of events,"

Richard Hunter, head of markets at interactive investor, said in

a morning note.

Hopes of more trade deals between the U.S. and major trading

partners, along with upbeat earnings and tame inflation data,

have been some of the main drivers of gains in equities this

month.

U.S. Treasury Secretary Scott Bessent stated that U.S. trade

talks with China are "a bit stalled" and getting a deal over the

finish line will likely need the direct involvement of President

Trump and Chinese President Xi Jinping.

At 5:14 a.m. ET, Dow E-minis were down 31 points, or

0.07%, S&P 500 E-minis were down 8.5 points, or 0.14%

and Nasdaq 100 E-minis were down 36.5 points, or 0.17%.

Most megacap and growth stocks inched lower in premarket

trading, with Nvidia ( NVDA ) off 0.7% after gaining in the last

session on reporting robust quarterly revenue growth.

Chipmaker Marvell Technology shed 3.9% despite

forecasting second-quarter revenue above estimates.

Ulta Beauty ( ULTA ) gained 8.6% after the cosmetics

retailer raised its annual profit forecast after beating

quarterly results.

Zscaler ( ZS ) advanced 3.2% as the cloud security firm

raised its annual profit and revenue forecasts and named Kevin

Rubin as its chief financial officer.

Later in the day, the Personal Consumption Expenditure data

- the Fed's favored inflation indicator - is scheduled for

release at 8:30 a.m. ET, which could shed more light on the U.S.

Federal Reserve's interest rate trajectory.

Trump called Fed Chair Jerome Powell to the White House late

on Thursday for their first face-to-face meeting since he took

office in January and told the central bank chief he was making

a "mistake" by not lowering interest rates.

Traders currently see at least two 25 basis points of cuts

by the end of the year, according to data compiled by LSEG.