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Apple ( AAPL ) slips as Berkshire Hathaway cuts stake

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Paramount Global ( PARAA ) up as bidders await word from special

committee

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Tyson Foods ( TSN ) climbs after Q2 profit beats estimates

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Futures up: Dow 0.38%, S&P 0.42%, Nasdaq 0.36%

(Updated at 8:26 am ET/1226 GMT)

By Sruthi Shankar and Shristi Achar A

May 6 (Reuters) - Wall Street was poised for a higher

open on Monday as traders priced in a greater chance of the

Federal Reserve cutting interest rates this year following a

soft payrolls data last week.

The benchmark S&P 500 and the blue-chip Dow

closed at three-week highs on Friday after data showed U.S. job

growth slowed more than expected in April, taking pressure off

the U.S. central bank to keep rates higher for longer.

Traders are currently pricing in rate cuts worth 48 basis

points from the Fed by the end of 2024, with the first cut

expected in September or November, according to LSEG's rate

probability app. In recent weeks, traders had priced in just one

cut due to signs of sticky inflation.

"It's been this tug of war between what you're seeing play

out in the rates market and the repricing of inflation and Fed

policy versus what you're seeing on the earnings front," said

Garrett Melson, portfolio strategist at Natixis Investment

Managers Solutions.

"In our opinion, it's been a pretty even battle so far."

U.S. stock indexes appear to have stabilized after a rocky

April, as a much better-than-expected first-quarter earnings

season and hopes of U.S. monetary policy easing draw buyers back

into the market.

The Fed left interest rates unchanged last week and signaled

it was leaning toward eventual reductions in borrowing costs,

but repeated that it wants to gain "greater confidence" that

inflation will continue to fall before cutting rates.

Richmond Fed President Thomas Barkin and his New York

counterpart John Williams are scheduled to speak later in the

day, kicking off speeches from a host of U.S. central bank

policymakers this week.

Key data releases this week include weekly jobless claims

and U.S. consumer sentiment data for May.

With the earnings season in full swing, investors will also

keep an eye on quarterly numbers from major firms including Walt

Disney ( DIS ), Uber ( UBER ) and Arm Holdings this

week.

Of the 397 firms in the S&P 500 that have reported earnings

through Friday, 76.8% beat analysts' profit estimates, compared

with the long-term average of 66.7%, as per LSEG data.

At 08:26 a.m. ET, S&P 500 e-minis were up 21.5

points, or 0.42%. Nasdaq 100 e-minis climbed 64.25

points, or 0.36% while Dow e-minis rose 148 points, or

0.38%.

Apple ( AAPL ) dipped 0.3% premarket after the value of

Berkshire's stake in the iPhone maker fell 22% to $135.4 billion

as of March 31, from $174.3 billion at the end of 2023.

Paramount Global ( PARAA ) added 3.6% after the media company

ended its exclusive negotiations with Skydance Media without a

deal, allowing the special committee to entertain other offers

from rival bidders.

Perficient jumped 53.2% after Swedish private

equity firm EQT AB said it would take the U.S.-based

digital consultancy firm private in an all-cash deal valued at

about $3 billion.

Tyson Foods ( TSN ) rose 2.4% after the meatpacker surpassed

Wall Street expectations for second-quarter profit as it begins

to reap the benefits of shutting some chicken processing plants

to reduce costs.

(Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru;

Editing by Shounak Dasgupta and Shinjini Ganguli)