(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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Boeing ( BA ) down on warning of bigger-than-expected Q4 loss

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Verizon falls after downbeat 2025 adj. profit forecast

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American Express ( AXP ) falls after Q4 results

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S&P January PMI data awaited

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Futures off: Dow 0.22%, S&P 500 0.07%, Nasdaq 0.03%

(Updates with analyst comment)

By Johann M Cherian and Sukriti Gupta

Jan 24 (Reuters) -

U.S. stock index futures were muted on Friday, with Wall

Street's main indexes on track for their second-straight week of

gains, while uncertainty about President Donald Trump's trade

policies also prevailed.

Tariffs are high on investors' minds after Trump referred to

the policies multiple times at separate events this week but did

little to lay out entire details of the surcharges he plans to

impose on trade partners of the United States.

The president has said tariffs on Mexico, Canada, China and

the European Union could be announced on Feb. 1, but analysts

say major plans could be announced on April 1 - the date by when

federal agencies are expected to complete reviews of a range of

trade issues.

Investors are concerned that tariffs could spark a global

trade war, add to inflation pressures and slow the pace of

interest rate cuts by the Federal Reserve. The central bank is

expected to leave interest rates unchanged next week at its

first policy meeting of the year.

"The scope and severity of possible tariff outcomes

remain uncertain. Our base case, to which we assign a 50%

probability, is for the U.S. effective tariff rate on China to

rise to 30%, and for China to retaliate," said Mark Haefele,

chief investment officer, global wealth management at UBS.

"We also expect efforts to limit transshipments, protect

U.S. technology interests, and impose tariffs on some EU

exports."

At 7:22 a.m. ET, Dow E-minis were down 98

points, or 0.22%, S&P 500 E-minis were down 4.5 points,

or 0.07%, and Nasdaq 100 E-minis were down 5.75 points,

or 0.03%.

Later in the day, markets will assess a preliminary private

survey on manufacturing and services activity for January and

the University of Michigan's final estimate on consumer

sentiment.

In premarket trading, Boeing ( BA ) lost 1.6% after warning

that it expects a fourth-quarter loss of about $4 billion to

close a rocky year for the planemaker. The company is expected

to report quarterly results on Tuesday.

Investors were also taking a pause after the benchmark S&P

500 closed Thursday's session at a record high for the

second time in over a month after Trump called for taxes, oil

prices and interest rates to be lowered at the World Economic

Forum in Davos, Switzerland.

On a weekly basis, Wall Street's main indexes are set for

their second straight week of advances, with the blue-chip Dow

on track for its biggest weekly jump since October 2022,

aided by Trump's artificial intelligence investment plans, signs

of cooling inflation and robust earnings from big banks in the

previous week.

Among others, Texas Instruments ( TXN ) dropped 3.7% after

forecasting first-quarter profit below analysts' estimates.

American Express ( AXP ) reported a 12% jump in

fourth-quarter profit. Shares, however, fell 2.6%.

Verizon Communications ( VZ ) dipped 0.3% after forecasting

annual free cash flow and adjusted profit below estimates.

The following week will see quarterly reports from megacaps

such as Microsoft ( MSFT ), Meta, Apple ( AAPL ) and

Tesla.

U.S.-listed shares of Chinese companies such as JD.Com

rose 3.1%, Xpeng added 3% and Alibaba

climbed 1.1% after Trump suggested in an interview that tariffs

against China could be avoided.