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Futures up: Dow 0.1%, S&P 500 0.12%, Nasdaq 0.15%

Aug 5 (Reuters) - Wall Street futures edged higher on

Tuesday, building on momentum from the previous session as

expectations for the Federal Reserve's interest rate cuts grew,

while investors assessed a new round of major corporate

earnings.

At 5:23 a.m. ET, Dow E-minis were up 46 points, or

0.1%, S&P 500 E-minis were up 7.75 points, or 0.12% and

Nasdaq 100 E-minis were up 34.25 points, or 0.15%.

Wall Street on Monday recorded its best session since May 27

and recouped losses from Friday's selloff as

weaker-than-expected July jobs data and significant downward

revisions to previous months' data intensified bets for a

September interest rate cut.

According to CME Group's Fedwatch tool, the odds for a

September rate cut now stand at 88.2%, compared with 63.3% a

week earlier. Market participants expect at least two

quarter-point cuts by the end of the year.

In another twist, President Donald Trump's decision to fire

the head of the Bureau of Labor Statistics, responsible for past

jobs data, stoked investors' fears about the integrity of

economic data.

Federal Reserve Governor Adriana Kugler's surprise

resignation on Friday also opened avenues for Trump to shake up

the Fed's leadership earlier than expected. The U.S. president

has repeatedly criticized Fed Chair Jerome Powell for not

cutting interest rates.

"U.S. growth resilience has been relatively remarkable so

far, even if the U.S. job market is raising doubts about what's

coming next," said Amelie Derambure, senior multi-asset

portfolio manager at Amundi.

The final July reading of S&P Global's Purchasing Managers'

Index is scheduled for release at 9:45 a.m. ET, followed by the

Institute for Supply Management's non-manufacturing PMI at 10:00

a.m. ET.

Investors also weighed the impact of U.S. tariffs on global

economies and corporate earnings. Trump on Monday threatened to

raise import tariffs on goods from India over its Russian oil

purchases, while New Delhi called the attack "unjustified" and

vowed to protect its economic interests.

Markets were also still watching if Trump will decide to

extend a trade truce with China that expires on August 12, or

potentially let tariffs shoot back up to triple-digits.

Earnings from major names on Tuesday include Advanced Micro

Devices ( AMD ), Pfizer ( PFE ), Snap, Rivian,

and Yum Brands ( YUM ).

Among other movers, Palantir Technologies ( PLTR ) rose 5.4%

in premarket trading after raising its annual revenue forecast

for the second time, driven by strong demand for its AI-linked

services.

Online telehealth company Hims and Hers Health ( HIMS )

crashed 12.4% after missing Street estimates for second-quarter

revenue, as subscribers for its compounded versions of

weight-loss drugs declined.

Inspire Medical Systems ( INSP ) sank 25.3% after its

second-quarter earnings failed to impress investors.