*

Futures up: Dow 0.21%, S&P 500 0.25%, Nasdaq 0.29%

*

Dominos Pizza rises after Q2 same-store sales beat

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EU to ramp up retaliation plans as US tariff deal

prospects dim

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Verizon boosts annual profit forecast, shares rise

(Updates with prices)

By Nikhil Sharma and Pranav Kashyap

July 21 (Reuters) - Wall Street futures inched up on

Monday, buoyed by hopes of breakthrough trade deals and ahead of

earnings from industrial and tech giants that could set the tone

for markets this week.

S&P 500 E-minis rose 15.75 points, or 0.25%, at 7:03

a.m. ET, and Nasdaq 100 E-minis climbed 66.25 points, or

0.29%, hovering near all-time highs hit last week.

Dow E-minis were up 92 points, or 0.21%.

With President Donald Trump's August 1 tariff deadline

looming, investors are hopeful that there will soon be signs of

fresh trade deals.

The European Union is, however, gearing up with an arsenal

of potential counter-measures against the United States, EU

diplomats said, as hopes for a breakthrough trade deal with

Washington dwindled.

This comes after U.S. Commerce Secretary Howard Lutnick on

Sunday expressed confidence over striking a trade deal with the

EU.

Trump has sent letters to other trading partners including

Canada, Japan and Brazil, setting blanket tariff rates ranging

from 20% to 50%.

The S&P 500 and the Nasdaq notched new

records last week as investors shrugged off tariff threats,

betting the economic fallout might not be as dire as once

feared.

Meanwhile, the blue-chip Dow hovered just 1.64% shy of its

all-time high.

Markets delivered a mixed reaction to the earnings season

that kicked off last week, showing that even a blockbuster

report was not enough to impress investors. Netflix ( NFLX ),

for instance, posted its steepest intraday tumble in over three

months on Friday despite beating earnings' estimates.

Now, all eyes are on marquee names such as Alphabet

and Tesla, whose results this week will kick

off the "Magnificent Seven" earnings parade, and could set the

tone for Wall Street.

Shares of Tesla and Alphabet were up over 1% each in

premarket trading. Verizon gained 4.2% after boosting its

annual profit forecast.

Meanwhile, shares of Domino's Pizza rose 5.2% after

the world's largest pizza chain surpassed analysts' expectations

for second-quarter U.S. same-store sales.

Of the 59 S&P 500 companies that have reported quarterly

earnings so far this season, 81.4% have surpassed Wall Street's

earnings expectations, compared with a long-term average of

67.1%, according to LSEG I/B/E/S data as of Friday.

The week is light on the economic data front, with only

notable indicators being weekly jobless claims figures and the

July business activity report expected on Thursday.

Investors will closely analyze Federal Reserve Chair Jerome

Powell's remarks on Tuesday for any clues on the central bank's

next move, especially after last week's mixed inflation signals.

Traders have largely ruled out a July rate cut, and are now

pegging the odds at about 60% for a September reduction,

according to CME Group's FedWatch tool.

Ethereum-linked companies Bitmine Immersion Technologies

, Gamesquare Holdings ( GAME ), BTCS ( BTCS ) and

Sharplink Gaming ( SBET ) advanced between 5.5% and 6.7% as

ether traded near its highest level this year after Trump

signed into law a bill regulating stablecoins in the United

States.

(Reporting by Nikhil Sharma in Bengaluru; Editing by Maju

Samuel and Shinjini Ganguli)