US STOCKS-Wall St futures muted as markets await key economic data

Feb 9 (Reuters) - Wall Street futures steadied on Monday, after a week marred by tech stock declines amid AI concerns that dragged the market lower, as investors awaited crucial economic data as well as hints from the U.S. central bank on potential rate cuts.

The S&P 500 and the Nasdaq had rebounded on Friday following three consecutive days of losses, with the AI trade coming under renewed scrutiny after Big Tech companies unveiled heavy capital expenditure plans.

Software names were pressured on concerns over AI creating competition and hurting their margins. Most traded higher in premarket trading, with Datadog DDOG.O rising 1.4%, while CrowdStrike CRWD.O, Atlassian TEAM.O and Service Now NOW.O rose between 0.7% and 1.1%.

The Dow was a bright spot, closing above 50,000 points on Friday for the first time and posting weekly gains, helped by a rotation into other pockets of the market. The small-cap Russell 2000 .RUT also benefited.

At 04:52 a.m. ET, Dow E-minis YMcv1 were up 46 points, or 0.09%, S&P 500 E-minis EScv1 fell 4 points, or 0.05%, and Nasdaq 100 E-minis NQcv1 were down 50.25 points, or 0.2%

The next big test for AI shares will be chip giant Nvidia's NVDA.O earnings later this month, as investors demand measurable gains from capex spending.

This week's focus will be on economic releases including the key January nonfarm payrolls report on Wednesday that was delayed by a partial government shutdown, and the closely watched January consumer price index on Friday.

Both data points could be crucial in setting expectations for the U.S. Federal Reserve's rate path. Markets are currently pricing in the first rate cut for June, according to CME Group's FedWatch tool, which could be when U.S. President Donald Trump's nominee for Fed chair Kevin Warsh takes over.

Eli Lilly LLY.N shares rose 2.1% in premarket trading after telehealth firm Hims & Hers HIMS.N canceled the launch of a $49 weight-loss pill over the weekend following legal threats from the U.S. Food and Drug Administration and Wegovy maker Novo Nordisk NOVOb.CO. Hims & Hers shares dropped 14%.

Of the 293 companies in the S&P 500 that have already reported earnings for the quarter, around 77% have beaten analysts' expectations, according to LSEG data. The long-term average for a beat is 67%.

Companies scheduled to report before the bell on Monday include Kyndryl KD.N, Becton Dickinson BDX.N., Apollo Global Management APO.N and Loews Corporation L.N. Software companies AppLovin APP.O and Datadog are due to report results later in the week.

Markets will also watch for Fed members later in the day, with Christopher Waller, Stephen Miran and Atlanta President Raphael Bostic slated to speak.

In other movers, Kroger KR.N shares added 6% after the Wall Street Journal reported the grocery giant plans to name former Walmart executive Greg Foran its chief executive officer.