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* Futures: Dow up 0.1%, S&P 500 down 0.2%, Nasdaq down 0.6%

July 10 (Reuters) - S&P 500 and Nasdaq futures eased on

Friday, halting a strong Wall Street rally as investors weighed

Middle East tensions and awaited the highly anticipated Nasdaq

debut of South Korean chip bellwether SK Hynix.

The main U.S. indexes closed higher in the previous session,

powered by gains in chipmakers. As of Thursday's close, the S&P

500 and the Nasdaq were on track for weekly

gains, with the AI trade back in focus ahead of SK Hynix's

high-profile U.S. listing later on Friday.

The memory-chip maker priced its American Depositary

Receipts at $149 on Thursday, raising about $26.5 billion. The

offering is set to be the world's second-biggest share sale

behind SpaceX's record-breaking IPO last month.

"SK Hynix's U.S. listing has arguably come a few months too

late as shares in memory chip suppliers have pulled back after a

purple patch earlier in the year," said Dan Coatsworth, head of

markets at AJ Bell.

"However, demand for the U.S. share sale has been stronger

than some people might have expected. That implies the memory

chip rally might have just taken a breath rather than peaked."

Chipmakers have been among the biggest beneficiaries of this

year's AI-driven rally, fueled by expectations of heavy spending

on data centers and AI infrastructure. But concerns over

stretched valuations and profit taking have recently injected

volatility into the sector.

Semiconductor stocks eased in premarket trading, with

memory-chipmakers leading declines. Micron Technology ( MU )

fell 3.2% after gaining 4.5% in the previous session, while

Western Digital ( WDC ) and Seagate Technology ( STX ) dropped

2.8% and 2.7%, respectively.

At 05:08 a.m. ET, Dow E-minis rose 61 points, or

0.12%, S&P 500 E-minis fell 12.25 points, or 0.16%, and

Nasdaq 100 E-minis lost 167.5 points, or 0.56%.

Geopolitical risk also kept investors on edge after Iranian

armed forces launched attacks on U.S. military infrastructure in

the Gulf states on Thursday, after U.S. strikes on Iran's

southern coastal and eastern provinces.

The latest escalation revived concerns about the

inflationary impact of the war.

New York Federal Reserve President John Williams said on

Thursday he did not expect Middle East hostilities to cause a

sustained rise in energy prices for the rest of the year, while

declining to say how he would vote at the Fed's policy meeting

later this month.

U.S. Federal Reserve Chair Kevin Warsh is scheduled to

testify before the House Financial Services Committee next week.

Markets are pricing in at least one 25-basis-point rate hike

by the end of 2026, according to LSEG data.

Earnings are set to gather pace next week, with analysts

expecting S&P 500 earnings to rise 24% from a year earlier, with

technology companies driving much of the growth, according to

data compiled by LSEG.

Traders will also watch second-quarter results from Delta

Air Lines ( DAL ) before the bell.