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Futures up: Dow 0.04%, S&P 500 up 0.12%, Nasdaq up 0.23%

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Q2 GDP first estimate due at 08:30 a.m. ET

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Humana up after raising annual profit forecast

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Visa falls after leaving full-year forecasts unchanged

(Updates with analyst comment, prices)

By Nikhil Sharma and Pranav Kashyap

July 30 (Reuters) - S&P 500 and Nasdaq futures edged up

on Wednesday as investors braced for fresh economic data, a Fed

policy decision and earnings reports from Wall Street's tech

heavyweights.

At 06:58 a.m. ET, S&P 500 E-minis were up 7.75

points, or 0.12%, Nasdaq 100 E-minis were up 53 points,

or 0.23%, Dow E-minis were up 18 points, or 0.04%

The S&P 500 and the Nasdaq snapped their record run on

Tuesday due to disappointing results from Dow components

UnitedHealth ( UNH ) and Merck ( MRK ).

With Wall Street's megacap giants set to unveil their

earnings, investors are expecting markets to hit new highs after

Microsoft ( MSFT ) and Meta Platforms ( META ) report after the

bell. Amazon ( AMZN ) and Apple ( AAPL ), which are reporting on

Thursday, are also in focus.

Shares of Starbucks ( SBUX ) jumped 4.5% in premarket

trading after the coffee chain operator reported a

higher-than-expected revenue jump in the third quarter.

Global payments processing company Visa fell 1.7%,

despite beating estimates for third-quarter earnings, as it kept

its annual net revenue growth forecast unchanged.

A wave of key economic data, including an early reading of

second-quarter GDP at 8:30 a.m. and July private payrolls, will

offer fresh insight into the economy's strength and the

resilience of the labor market amid ongoing trade tensions.

Economists polled by Reuters expect GDP to have rebounded at

a 2.4% annualized pace, following a 0.5% decline last quarter.

Investors will also closely monitor the interest rate

decision from the Federal Reserve, which is widely expected to

hold rate steady.

While analysts anticipate little drama from the announcement

itself, investors will be parsing Chair Jerome Powell's comments

for any hints on future policy direction, especially as the Fed

navigates political pressure and assesses the effects of tariffs

on inflation.

"Based on the stronger data two weeks ago and with two more

prints to come before the September meeting, we see no

compelling reason why chair Powell would change his tune at

today's press conference," said Kenneth Broux, head of corporate

research, FX and rates at Societe Generale.

Meanwhile, two days of U.S.-China negotiations ended in both

sides agreeing to seek an extension of their 90-day tariff

truce, which expires on August 12. U.S. officials said it would

be up to President Donald Trump to approve the extension.

South Korea was also lobbying to secure a trade deal ahead

of Trump's August 1 deadline as its officials met U.S. Commerce

Secretary Howard Lutnick in Washington.

The European Union on Sunday joined the list of U.S. trading

partners that have struck agreements with Washington. Its

framework deal with the U.S. halved import duties to 15% for the

bloc.

Among other earnings moves, Humana and GE HealthCare

gained 8.3% and 1.3%, respectively, after the companies raised

their annual profit forecasts.

(Reporting by Nikhil Sharma and Pranav Kashyap in Bengaluru;

Editing by Shinjini Ganguli)