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

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Futures down: Dow 0.91%, S&P 500 1.41%, Nasdaq 1.91%

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Q1 GDP contracts, PCE on deck

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SMCI plunges after Q3 forecast trim

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ADP April figures miss expectations

(Updates after economic data)

By Lisa Pauline Mattackal and Purvi Agarwal

April 30 (Reuters) - U.S. stock index futures pointed to

a lower open on Wednesday as data showed the world's largest

economy contracted in the first quarter, amplifying worries

about the fallout from President Donald Trump's tariff policies.

Gross domestic product decreased at a 0.3% annualized rate

in the first quarter, per the Commerce Department's Bureau of

Economic Analysis, weighed down by a flood of imports by

businesses eager to avoid higher costs before new tariffs took

effect. Economists polled by Reuters had forecast growth of

0.3%.

The number likely exaggerated the economy's dimming

prospects though, given growth in consumer spending.

Still, it was the latest in a series of data releases over

the month that have indicated an increasingly murky economic

outlook, alongside a sharp decline in business and consumer

sentiment.

Stock index futures dropped to session lows after the

release.

The ADP National Employment Report, which comes ahead of

Friday's nonfarm payrolls, also showed a much

smaller-than-forecast increase in private payrolls this month.

March's reading of the PCE price index - the Federal Reserve's

preferred inflation metric - is due after markets open.

"Given the amount of damage that's been done to businesses

(and) consumer confidence, we could just be getting started on

seeing a continuation of these weaker numbers," said John Luke

Tyner, portfolio manager at Aptus Capital Advisors.

On the earnings front, Caterpillar ( CAT ) rose 1.5% in

premarket trading after its quarterly results.

Shares of "Magnificent Seven" members Meta Platforms ( META )

and Microsoft ( MSFT ) fell as investors await their

results, due after markets close, for clarity on the outlook for

the tech sector and AI-focused investments.

Fanning concerns about a pullback in investments into AI,

Super Micro Computer ( SMCI ) cut its third-quarter forecasts

due to delays in customer spending, sending its shares down

19.5%.

Snapchat parent Snap dropped 16% after saying it

would not provide a second-quarter financial forecast. Several

companies have cut or even withdrawn guidance due to tariff

uncertainty over the past weeks.

At 08:45 a.m. ET, Dow E-minis were down 370 points,

or 0.91%, S&P 500 E-minis were down 78.5 points, or

1.41%, and Nasdaq 100 E-minis were down 376 points, or

1.91%.

The indexes have recouped some ground this month after a

sharp slump following the April 2 "Liberation Day" tariff

announcements. The Nasdaq is set for gains this month, while the

other two are set to slip.

The S&P 500 notched its best winning streak since November

on Tuesday.

Wednesday also marks 100 days since Trump took office.

Erratic changes in trade policies and uncertainty have roiled

markets over that period, offsetting initial optimism over the

administration's business-friendly policies.

The benchmark S&P 500 has lost more than 7% since

Trump's presidency began, and is off over 9% from its February

record close.

Among other stocks, Humana gained 4.9% after beating

Wall Street estimates for first-quarter profit and Norwegian

Cruise Line Holdings ( NCLH ) tumbled 8.5% after missing

first-quarter earnings estimates.