US STOCKS SNAPSHOT-Futures cuts gains slightly after April jobs data

U.S. stock index futures pared back some gains on Friday after data showed U.S. jobs grew more than expected in April, and a fairly strong wage growth prompted investors to temper their expectations of interest rate cuts from the Federal Reserve. The Labor Department's closely watched employment report showed non-farm payrolls increased by 253,000 jobs last month.

U.S. stock index futures pared back some gains on Friday after data showed U.S. jobs grew more than expected in April, and a fairly strong wage growth prompted investors to temper their expectations of interest rate cuts from the Federal Reserve. The Labor Department's closely watched employment report showed non-farm payrolls increased by 253,000 jobs last month. Economists were expecting jobs to grow by 180,000.

Average hourly earnings rose 0.5% in April, versus expectation of a 0.3% rise, while unemployment rate slipped to 3.4% from 3.5% in the previous month. At 8:37 a.m. ET, Dow e-minis were up 158 points, or 0.48%, S&P 500 e-minis were up 23 points, or 0.56%, and Nasdaq 100 e-minis were up 56.5 points, or 0.43%.