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

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

*

Tesla soars after strong sales forecast

*

UPS advances following quarterly profit beat

*

Boeing ( BA ) down after workers reject latest contract

*

Futures: Dow down 0.12%, S&P 500 up 0.46%, Nasdaq up 0.83%

(Updated at 07:07 a.m. ET/1107 GMT)

By Lisa Pauline Mattackal and Purvi Agarwal

Oct 24 (Reuters) -

Futures linked to the S&P 500 and the Nasdaq 100 surged on

Thursday following a selloff in the previous session, buoyed by

Tesla's optimistic earnings forecast, which kicked off megacap

results on an upbeat note.

Shares of the EV-maker soared nearly 12% in premarket

trading after it reported robust third-quarter profits and

surprised investors with a prediction of 20 to 30% growth in

sales next year.

"Tesla bounced back from the underwhelming launch of its

Robotaxi with a strong set of third-quarter earnings. These

numbers represent a return to form after an underpowered second

quarter, when profitability dropped sharply," said Russ Mould,

investment director at AJ Bell.

"There is clearly still decent appetite for electric

vehicles, even if it is not coming through as rapidly as some

hoped."

Tesla was the first of the so-called Magnificent Seven group

of megacaps to report, with results from several others awaited

next week.

The optimism spread to the other six, with Nvidia ( NVDA )

rising 1%, Amazon.com ( AMZN ) up 0.8% and Meta Platforms ( META )

gaining 0.9% after steep declines in the previous

session.

Dow E-minis were down 53 points, or 0.12%, S&P 500

E-minis were up 26.75 points, or 0.46%, and Nasdaq 100

E-minis were up 168.25 points, or 0.83%.

Wall Street witnessed a selloff on Wednesday, with the

benchmark S&P 500 notching its third straight decline and the

Nasdaq seeing its worst day since early September.

Stocks have eased from record levels over the past few

sessions due to a reassessment of bets on the Federal Reserve's

rate cuts, rising Treasury yields, corporate earnings and

uncertainty surrounding the upcoming U.S. election.

"Price action speaks to a market that was overly rich and

well-owned, and as the cracks started to emerge the signal was

there for others to follow," said Chris Weston, head of research

at Pepperstone.

Moves were likely exacerbated as traders moved to hedge

their losses, Weston said.

The yield on the benchmark 10-year Treasury eased slightly

on the day, but was still trading around its highest since late

July.

Shares of Boeing ( BA ) dropped 2.7% after factory workers

voted on Wednesday to reject a contract offer and continue a

more than five-week strike that has seen the company's losses

soar.

Meanwhile, investor focus returned to the earnings season,

with UPS adding 6.7% after the parcel service provider

reported a rise in third-quarter profit on rebounding volumes

and cost cuts. Rival FedEx ( FDX ) was up 2.1%.

Southwest Airlines ( LUV ) rose 5.5% after reporting a

surprise

profit

in the third quarter, while Honeywell International ( HON )

was off 2.4% after quarterly results.

IBM ( IBM ) lost 5% after missing estimates for

third-quarter revenue, while gold producer Newmont ( NEM )

dropped 5.8% as higher costs and weaker Nevada output saw it

miss profit estimates.

Around 29% of S&P 500 companies have reported results so

far this quarter, according to data compiled by LSEG, with 81%

beating earnings estimates.

On the economic front, S&P Global flash PMIs, new home

sales for September and weekly jobless claims data are due on

the day, along with comments from Cleveland Fed President Beth

Hammack.

(Reporting by Lisa Mattackal and Purvi Agarwal in Bengaluru;

Editing by Saumyadeb Chakrabarty)