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*
Stronger-than-expected jobs data for May and a pickup in wages
were the latest signs of improved momentum in the economy,
prompting expectations that the Fed will raise rates sooner than
later.
* Wall Street's top banks said they expect the Fed to begin
raising rates in September, followed by another increase before
the end of the year, according to a Reuters poll.
* More sales of German government bonds weighed on European
stock markets, while the dollar retreated after a report – later
denied – that President Barack Obama had expressed concern over
its strength after a year-long rally.
* Sears Holdings' shares rose 2.85 percent to $41.90 in
premarket trading after the department store operator reported a
smaller quarterly loss and said it plans to raise $2.6 billion
from the spinoff of 235 stores into a real estate investment
trust (REIT).
* Walter Energy slumped more than 35 percent to 29 cents and was
set to open at record low after Bloomberg reported the coal
miner could file for bankruptcy this month.
* McDonald's is scheduled to report its monthly sales for May
before the market opens.
Futures snapshot at 7:32 a.m. ET:
* S&P 500 e-minis were down 2.75 points, or 0.13 percent, with
118,002 contracts traded.
* Nasdaq 100 e-minis were down 5.5 points, or 0.12 percent, on
volume of 21,750 contracts.
* Dow e-minis were down 10 points, or 0.06 percent, with
23,457 contracts changing hands.
(Reporting by Tanya Agrawal; Editing by Savio D'Souza)
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