US STOCKS-S&P 500 futures cross 6,000 mark as equities ride higher on Trump's victory

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Futures up: Dow 0.05%, S&P 500 0.09%, Nasdaq 0.06%

Nov 8 (Reuters) - Futures tracking the benchmark S&P 500 were trading above the 6,000-point mark on Friday, with equity markets set for an upbeat end to an action-packed week that saw Donald Trump recapture the U.S. presidency and the Federal Reserve cut rates.

Futures for all three major indexes were little changed in early trading after S&P 500 futures passed the milestone for the first time on Thursday.

"I can't say that there was a particular catalyst for the move, which seemed more to be a continuation of the initial post-election equity gains than anything else," said Michael Brown, senior research strategist at Pepperstone.

The Fed cut interest rates by 25 basis points on Thursday, which was expected. At the meeting, Chair Jerome Powell said the result of Tuesday's presidential election would have no "near-term" impact on monetary policy.

Stocks have rallied this week after Trump's decisive election victory, as markets expect proposed tax cuts and an easier regulatory regime to lift corporate profits and boost stocks.

"Strong earnings and economic growth, coupled with the forceful 'Fed put', (are) set to continue to propel the market higher over the medium term," Brown said.

However, Trump's fiscally expansive spending plans and proposed tariff hikes could push up inflation, complicating the path for the Fed to ease policy. Traders have trimmed expectations for rate cuts next year, and bond yields have jumped to multi-month highs.

Still, the immediate impact on Wall Street has been muted. All three major indexes closed around record highs on Thursday.

The Dow and S&P 500 are set for their best week in nearly one year, while the Nasdaq is on track for its best in two months.

At 3:35 a.m. ET, Dow E-minis were up 21 points, or 0.05%, U.S. S&P 500 E-minis were up 5.25 points, or 0.09% and Nasdaq 100 E-minis were up 11.75 points, or 0.06%.

Investors were also eyeing the possibility of a "Red Sweep," that would make it easier for Trump to enact his legislative plans, with Republicans set to maintain their narrow majority in the House of Representatives after winning control of the U.S. Senate.

They will also closely monitor the University of Michigan's preliminary consumer sentiment survey data for November, which is due later in the day, and Federal Reserve Board Governor Michelle Bowman's speech.

(Reporting by Lisa Mattackal in Bengaluru; Editing by Shinjini Ganguli)