* Futures: Dow up 0.1%, S&P flat, Nasdaq up 0.24%

* Qualcomm ( QCOM ) shares gain after report of talks to buy

Tenstorrent

* SpaceX on course to overtake Amazon ( AMZN ) in market value

* Wells Fargo raises its year-end S&P 500 target to 7,950

(Updates with prices, analyst comment)

By Sruthi Shankar and Twesha Dikshit

June 16 (Reuters) - Nasdaq and Dow futures ticked higher on

Tuesday as investors switched focus to the first interest rate

decision under new Federal Reserve Chair Kevin Warsh, while

SpaceX extended its post-IPO run for a third day.

Tech stocks were a bright spot in premarket trading, with

shares of SpaceX climbing 9.7%, putting the space and

AI giant on course to overtake Amazon ( AMZN ) in market value

and become the world's fifth-largest company.

The Elon Musk-led company said it would acquire software

firm Anysphere for $60 billion in a bid to ramp up its presence

in the enterprise AI market.

Memory chip stocks also jumped, with Micron Technology ( MU )

up 3.5%, while Western Digital ( WDC ) and Seagate

Technology ( STX ) added 9.1% and 7.7%, respectively.

The blue-chip Dow closed at a record high on Monday

after U.S. President Donald Trump said a preliminary agreement

to end the conflict had been signed by the U.S. and Iran,

sending oil prices sharply lower and easing concerns about

inflation.

Still, doubts swirled around the deal as shippers said it

could take weeks for confidence to return after any reopening of

the Strait of Hormuz.

The Fed is widely expected to hold interest rates at the

3.50-3.75% range at the end of its policy meeting on Wednesday,

with investors closely watching Warsh's comments on inflation,

unemployment and the economic outlook, potentially market-moving

words of the world's most important central banker.

"Markets are eagerly awaiting Kevin Warsh's debut as FOMC

(the Federal Open Market Committee) chair. Since the last

meeting, markets went from thinking about rate cuts to thinking

about rate hikes," said Nate Hyde, senior portfolio manager at

Insight Investment.

"But now with a deal agreed, it will likely give Warsh the

opportunity to take a more dovish tone than he would have last

week."

Inflation, in particular, seems stuck more than a percentage

point above the Fed's 2% target, and Warsh's characterization of

whether and when it is likely to fall will be a key first step

in the evolution of monetary policy under his leadership.

Traders see a 42% chance of a 25-basis-point rate hike in

December, as per CME Group's FedWatch tool, with rate cuts seen

coming only after mid-2027.

The Bank of Japan raised interest rates to a 31-year high

earlier on Tuesday, as it focused on taming price pressures from

the energy shock caused by the Iran war.

At 7:06 a.m. ET, Dow E-minis were up 50 points, or

0.1%, S&P 500 E-minis were up 2.5 points, or 0.03%, and

Nasdaq 100 E-minis were up 73.25 points, or 0.24%.

The benchmark S&P 500 was also closing in on early

June record highs after a slump driven by concerns about high

valuations in the technology sector and the U.S.-Iran conflict.

Wells Fargo raised its 2026 year-end target for the S&P 500

to 7,950 on corporate earnings strength and a preliminary

U.S.-Iran deal.

Qualcomm ( QCOM ) rose 6.1% after the Information reported

that the chipmaker was in talks to acquire AI chip startup

Tenstorrent for $8 billion to $10 billion.

Shares of Dave & Buster's Entertainment tumbled 16%

after the entertainment firm missed analysts' expectations for

first-quarter earnings and revenue.

Robinhood was up 2.1% after the trading platform

said it would cut 10% of its full-time workforce and close

remaining open roles.