Dec 15 (Reuters) - U.S. stock index futures ticked higher on Monday, pausing the tech-driven rout that rattled Wall Street late last week, as investors brace for a barrage of economic data that could set the course for interest rates.
Traders also got more clarity on candidates for the Federal Reserve Chair post next year as U.S. President Donald Trump, according to a report, said he narrowed his search to former Fed Governor Kevin Warsh or National Economic Council Director Kevin Hassett.
Expectations for a dovish chair have boosted expectations for Fed interest rate cuts next year, even as inflation stays above the 2% target and price pressures in other developed markets are boosting rate hike expectations.
JPMorgan's (JPM.N), boss, Jamie Dimon, signaled support for former Fed Governor Warsh, according to a report, on the likelihood that Hassett could cut rates in the short term. Trump's decision on the nominee is expected early next year.
Tuesday will bring non-farm payrolls figures for November and October, the latter being delayed by the government shutdown earlier this quarter.
Reports on business activity, weekly jobless claims and inflation later this week will be closely watched by investors hunting for clues on the economy's strength and the Fed's next moves on policy. Rate calls from Europe, the UK and Japan will add to a crowded central-bank calendar.
Markets will also pore over comments from a string of Fed officials after the U.S. central bank cut interest rates on Wednesday. Fed Governor Stephen Miran and New York Fed President John Williams, both permanent voters seen as on the dovish side, are slated to speak later in the day.
"This is the first month back to normal data publication after the government data shutdown," said Daniela Hathorn, senior market analyst, Capital.com.
"The labor market numbers will be watched especially closely. A softer labor market and tame inflation could encourage markets to bring forward expectations for the next rate cut."
At 7:04 a.m. ET, Dow E-minis were up 229 points, or 0.47%, S&P 500 E-minis were up 33 points, or 0.48%, Nasdaq 100 E-minis were up 136 points, or 0.54%.
Wall Street's S&P 500 (.SPX), and the Nasdaq (.IXIC), logged their steepest daily declines in more than three weeks on Friday as worries of sticky inflation and debt-fueled artificial intelligence investments pulled the indexes further away from record highs.
Those worries have weighed on U.S. equities several times over the past three months, helping Europe's STOXX 600 (.STOXX), outperform the Nasdaq and the S&P 500 on a quarterly basis.
In some relief, a Reuters report last week said Nvidia (NVDA.O), is considering increasing production capacity for its powerful H200 AI chips. The company's shares were up 1% in premarket trading after last week's 4% slide.
ServiceNow (NOW.N), slid 3.9% after a report said the cybersecurity company is in advanced talks to buy startup Armis.
IRobot (IRBT.O), sank 78% as the Roomba vacuum-cleaner maker filed for bankruptcy protection.
Broader uncertainty pushed investors to precious metals, aiding 1.9% gains in U.S.-listed miners such as Newmont (NEM.N), and Barrick Mining .
Weed stocks Cronos and Tilray Brands gained over 5.5% each on reports that the U.S. could soon ease restrictions on marijuana.
Reporting by Johann M Cherian and Pranav Kashyap in Bengaluru; Editing by Maju Samuel
