(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

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Gap soars after raising annual sales forecast

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Intuit drops after forecasting Q2 results below estimates

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S&P flash PMIs expected at 9:45 a.m. ET

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Futures off: Dow 0.06%, S&P 500 0.14%, Nasdaq 0.24%

(Updates with prices, quote)

By Johann M Cherian and Purvi Agarwal

Nov 22 (Reuters) - U.S. stock index futures dipped on

Friday as investors were cautious ahead of a business activity

survey and monitored geopolitical tensions between Ukraine and

Russia, although Wall Street's main indexes were poised for

weekly gains.

The benchmark S&P 500 and blue-chip Dow closed

Thursday at one-week highs, with AI bellwether Nvidia ( NVDA )

managing modest gains after its quarterly forecast, while

investors took comfort from robust economic data. In premarket

trading on Friday, Nvidia ( NVDA ) dropped 0.4%.

Market attention is now on a S&P business activity survey

due at 9:45 a.m. ET, with forecasts pointing to services

activity still in expansion territory, while manufacturing is

expected to remain in contraction.

At 07:02 a.m., Dow E-minis were down 29 points, or

0.06%, S&P 500 E-minis slipped 8.25 points, or 0.14% and

Nasdaq 100 E-minis fell 49.25 points, or 0.24%.

The three main indexes are on track to end the week higher,

with sentiment still strong about the positive implications

Donald Trump's tax and tariff policies could have for corporates

after his win in the presidential election.

Futures tracking small caps inched up 0.2% and the

Russell 2000 index was set for weekly advances of about

2%.

However, expectations on the Federal Reserve's policy move

in December have recently swayed between a pause and a cut, as

investors weigh the impact Trump's policies can have on price

pressures.

There is a 59.4% probability the central bank will lower

borrowing costs by 25 basis points, as per the CME Group's

FedWatch Tool.

"The strong economic growth is good for business, but strong

business is not necessarily good for taming inflation. Add

Trump's plans to cut taxes and impose tariffs...and the

inflation outlook doesn't look supportive of sustained rate cuts

from the Fed," said Ipek Ozkardeskaya, senior analyst at

Swissquote Bank.

Comments from Federal Reserve Board Governor Michelle Bowman

will also be parsed later in the day.

Markets were also monitoring a missile exchange between

Ukraine and Russia after the latter lowered its threshold for a

nuclear retaliation earlier in the week. Energy stocks

are the most sensitive to geopolitical risks and have gained

over 2% this week.

Among top movers, Gap Inc ( GAP ) jumped 15.2% after the Old

Navy parent raised its annual sales forecast and said the

holiday season was off to a "strong start".

Intuit lost 5% after the TurboTax parent projected

second-quarter revenue and profit below Wall Street estimates on

Thursday.

Alphabet dipped 0.7% and Amazon.com ( AMZN ) was

flat.

On Thursday, the Google parent slid after prosecutors argued

it was monopolizing online search, while a report said Europe

will start an investigation next year into whether Amazon ( AMZN ) favors

its own brand products on its online marketplace.

Most crypto stocks edged higher, with bitcoin trading

shy of $100,000. MicroStrategy ( MSTR ) added 4.7%, while

Coinbase was up 1.3%.

Speculations were rife about who could be the Treasury

Secretary in the Trump cabinet, with a report saying the

president-elect floated the idea of appointing Kevin Warsh on

the understanding he could later be Federal Reserve Chairman.