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* Futures: Dow up 0.21%, S&P 500 up 0.25%, Nasdaq down 0.07%

Aug 5 (Reuters) - Contracts tracking the S&P 500 and the Dow

edged up on Wednesday on hopes of a Middle East peace

breakthrough, while Nasdaq futures lagged as upbeat forecasts

from SpaceX and AMD failed to impress investors.

Elon Musk-ledSpaceX's revenue nearly doubled and

operating losses narrowed in its first earnings report since

going public, fueled by its booming Starlink satellite

communications and AI businesses.

But the rocket company's shares slid 10% in premarket

trading after executives flagged the spending spree underpinning

its lofty ambitions were far from over. Shares could face

additional pressure from the expiry of the stock's post-IPO

lock-up period starting on Thursday. Musk's other company, Tesla

, slipped 0.8%.

Advanced Micro Devices ( AMD ) forecast quarterly revenue above

estimates, reflecting strong AI demand. However, shares slipped

8.1%, suggesting investors were looking for a stronger outlook

to justify the stock's 142% jump this year.

Rival Nvidia's ( NVDA ) shares, which have lagged AMD this

year, rose 1.9%, also underpinned by SpaceX's plans to use the

company's hardware exclusively to build its data centers.

Other chip stocks such as Intel ( INTC ) and Micron lost

1.5% each, while megacaps Microsoft ( MSFT ) and Alphabet

were steady as Wall Street took a breather from a

rally spanning over the past few sessions that took the

benchmark S&P 500 and the blue-chip Dow to record

highs.

At 05:06 a.m. ET, Dow E-minis were up 116 points,

or 0.21%, and S&P 500 E-minis were up 19.75 points,

or 0.25%. Nasdaq 100 E-minis were down 20.5 points,

or 0.07%.

The focus is also on a private national employment survey due at

8:15 a.m. ET that could offer clues on how the jobs market fared

in July, ahead of the official non-farm payrolls figures on

Friday.

A survey on services sector activity during the previous month

is also due at 10 a.m. ET.

Data has broadly reflected robust economic performance, but with

Middle East tensions keeping energy costs elevated and the

Federal Reserve offering no forecasts on monetary policy,

uncertainty persists.

Kansas City Fed President Jeff Schmid, a non-voting member on

the Federal Open Market Committee, said late on Tuesday that

some sort of monetary policy tightening is needed to get "too

high" inflation back to the 2% target.

Remarks from Governor Lisa Cook and San Francisco Fed President

Mary Daly will be scrutinized for their perspectives on interest

rates.

Traders are pricing in a 58.4% chance of a rate hike in

September, the CME Group's FedWatch Tool showed.

Telecom stocks such as Verizon and AT&T ( T ) shed over

2% each and T-Mobile slipped 0.8% after SpaceX revealed

ambitions to build full-fledged mobile service.

Results from Uber ( UBER ), Eli Lilly ( LLY ), Honeywell

and Kraft Heinz are among those due before markets open.

​

(Reporting by Johann M Cherian in Bengaluru; Editing by Devika

Syamnath)