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

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

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November nonfarm payrolls at 227,000 versus 200,000

estimated

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Ulta Beauty ( ULTA ) gains after raising annual profit forecast

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Lululemon Athletica ( LULU ) up following upbeat annual forecast

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Futures up: Dow 0.05%, S&P 500 0.07%, Nasdaq 0.09%

(Updates before markets open)

By Shashwat Chauhan and Purvi Agarwal

Dec 6 (Reuters) -

Wall Street was on track for marginal gains at Friday's open

as traders increased bets on a Federal Reserve rate cut this

month after the November payrolls report.

U.S. job growth

surged

in November after being severely constrained by hurricanes

and strikes, but this probably does not signal a material shift

in labor market conditions, which continue to ease steadily and

would allow the Fed to cut interest rates again this month.

"This type of report gives the market room to assume

that (the rate-cut) trajectory will be more gradual than

previously expected," said Keith Buchanan, partner and senior

portfolio manager at Globalt Investments.

"We have a 25-basis-point cut baked in for December. As

we draw closer to the (Fed) meeting, unless there is something

really disruptive, the odds will continue to tick higher."

Traders

boosted bets

that the U.S. central bank will cut interest rates this

month, now signaling a more than 85% chance of a

0.25-percentage-point rate cut at the Fed's upcoming Dec. 17-18

meeting, versus 67% before the release of the jobs report.

A preliminary reading of December U.S. consumer sentiment

calculated by the University of Michigan is also due shortly

after markets open on Friday.

Four Fed officials including San Francisco President Mary

Daly and Governor Michelle Bowman are scheduled to make public

appearances throughout the day, on the eve of a media blackout

that kicks in on Saturday in the run-up to the central bank's

Dec. 17-18 policy meeting.

U.S. stocks closed lower in the last session, with

UnitedHealth ( UNH ) down sharply and technology shares giving

up some gains after a steady increase through the week.

Despite Thursday's pullback, the S&P 500 and the

Nasdaq were on track for their third consecutive weekly

gains, while the blue-chip Dow was set for minor losses.

The three indexes are hovering near record highs as a

relentless rally in heavyweight tech stocks - a bid to cash in

on the euphoria around artificial intelligence - led to robust

gains throughout this year.

U.S. President-elect Donald Trump's win in the Nov. 5

election has been another recent tailwind for stocks. Analysts

expect his tax-cut policies and looser regulations could support

corporate performance.

At 08:51 a.m. ET, Dow E-minis were up 24

points, or 0.05%, S&P 500 E-minis were up 4.25 points,

or 0.07%, and Nasdaq 100 E-minis were up 19 points, or

0.09%.

Among major premarket movers, Ulta Beauty ( ULTA ) advanced

10.1% after the cosmetics retailer raised its annual profit

forecast, signaling a revival in demand for perfumes and makeup

during the holiday shopping season.

Lululemon Athletica ( LULU ) added 8.6% after the sportswear

maker increased its full-year forecasts, betting on resilient

demand for its athletic wear in the U.S. during the holiday

shopping season as well as continued strength in its

international business.