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Futures up: Dow 0.24%, S&P 500 0.31%, Nasdaq 0.32%

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Pinterest ( PINS ) falls after missing Q2 profit estimates

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Fed's Alberto Musale due to speak later in the day

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Trade Desk ( TTD ) slumps after slower Q2 revenue growth

(Updates with analyst comment, prices)

By Nikhil Sharma and Pranav Kashyap

Aug 8 (Reuters) -

U.S. stock index futures rose on Friday after President

Donald Trump's temporary pick for a Federal Reserve governor

fueled expectations of a more dovish policy ahead.

At 6:52 a.m. ET, S&P 500 E-minis were up 19.5

points, or 0.31%, Nasdaq 100 E-minis were up 74.5

points, or 0.32%, and Dow E-minis were up 107 points, or

0.24%.

Investors were being whipsawed by mixed signals over the

Fed's future, as Trump's pressure stirs worries about the

central bank's independence and a potential leadership reshuffle

that could skew policy looser.

On Thursday, the U.S. president said he will

nominate

Council of Economic Advisers chair Stephen Miran for a

short-term Fed seat while the White House hunts for a permanent

governor and a new chair. Miran replaces Governor Adriana Kugler

following her surprise resignation last week.

The S&P 500 and the Dow cooled in the last session after

Bloomberg News reported

Fed Governor Christopher Waller was emerging as a leading

contender for the chair.

"He's (Miran) widely expected to join Waller and

Michelle Bowman in the dovish camp for the few meetings he will

attend, with a non-negligible risk he might try to build

consensus for a 50 basis point move," ING analysts send in a

note.

The Nasdaq and the S&P 500 were on track for their best

week in over a month, buoyed by tech names after signs they

could sidestep new chip tariffs by building more in the United

States.

Apart from tech stocks, equities have ridden a sharp

reset in rate expectations and a flurry of upbeat earnings.

The CME FedWatch tool shows traders see a 90% chance of

the first rate cut of the year coming next month - and futures

point to at least two cuts by year-end.

On Thursday, the S&P 500 and the Dow ended

lower, weighed down by a 14.1% drop in Eli Lilly ( LLY ) after

results from a late-stage study on its experimental GLP-1 pill

fell behind that of Novo Nordisk's.

Sector-wise, consumer discretionary could top the

leaderboard this week, while healthcare lags, weighed

down mainly by Eli Lilly ( LLY ).

Meanwhile, U.S. tariffs on a bunch of trading partners took

effect at midnight on Thursday. Tokyo's trade negotiator said

Washington will amend a presidential executive order to remove

overlapping tariffs on Japanese goods, terming it as oversight.

In earnings-related moves, Trade Desk ( TTD ) sank 30% in

premarket trading after the ad-tech firm reported a sharp

slowdown in second-quarter revenue growth.

Pinterest ( PINS ) tumbled 11% as the social media platform

missed analysts' estimates for second-quarter profit.

Microchip Technology ( MCHP ) lost 7.9% after the

chipmaker's first-quarter results failed to impress investors.

St. Louis Fed President Alberto Musalem is scheduled to

speak later at 10:20 a.m. ET.