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Futures: S&P off 0.34%, Nasdaq 100 down 0.44%, Dow down

0.27%

May 9 (Reuters) - U.S. stock index futures slipped on

Thursday as Treasury yields rose further ahead of jobless claims

data that could provide a clearer picture of the Federal

Reserve's interest rate agenda for the year.

In a week lacking big catalysts, market momentum has stalled

somewhat as investors look for fresh clues on the monetary

policy outlook, after softer-than-expected payrolls data last

week fueled bets of one or two rate cuts this year.

The S&P 500 ended flat on Wednesday after four

sessions of gains and the Nasdaq slipped for a second

day. The Dow Jones Industrial Average, however, stretched

its winning streak to a sixth straight session and closed above

39,000 points for the first time in five weeks.

Money market traders are pricing in U.S. rate cuts of 43

basis points (bps) by the end of 2024, according to LSEG's rate

probabilities app. Before the jobs data, they were pricing in

just one rate cut due to signs of a resilient economy and sticky

inflation.

Market focus will shift to weekly jobless claims data and

remarks from San Francisco Fed President Mary Daly during the

day.

Boston Fed President Susan Collins on Wednesday expressed

confidence that the current setting of monetary policy will slow

the economy in a way she believes will be necessary to get

inflation back to the Fed's 2% target.

The yield on 10-year Treasury notes, the

benchmark for global borrowing costs, edged up for a second day

after the auction of 10-year notes.

That in turn piled pressure on megacap stocks such as Apple ( AAPL )

and Microsoft ( MSFT ) in premarket trading.

By 5:19 a.m. ET, S&P 500 e-minis dipped 17.5 points,

or 0.34%. Nasdaq 100 e-minis slipped 79.75 points, or

0.44%, and Dow e-minis dropped 105 points, or 0.27%.

Arm Holdings tumbled 8.7% after the chip designer

forecast full-year revenue below expectations even as

March-quarter results beat estimates.

Rival Nvidia ( NVDA ) slipped 0.7%.

Tesla dipped 1.1% after Bloomberg News reported the

electric vehicle maker's job cuts were escalating in China.

Robinhood Markets ( HOOD ) gained 5.4% after the online

brokerage beat estimates for first-quarter profit, thanks to

robust crypto trading volumes and rate hikes that boosted its

net interest revenue.

Airbnb ( ABNB ) slid nearly 8% after the vacation rental

company forecast second-quarter revenue below market

expectations.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Devika

Syamnath)