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Futures: Dow flat, S&P 500 down 0.11%, Nasdaq down 0.25%

July 22 (Reuters) - Wall Street futures edged lower on

Tuesday as investors braced for a busy day of earnings while

navigating uncertainties around U.S. trade negotiations with key

partners.

At 05:50 a.m. ET, S&P 500 E-minis were down 7

points, or 0.11%, Nasdaq 100 E-minis were down 60

points, or 0.25%, and Dow E-minis were up 1 point, or

0%.

The cautious moves follow a volatile session on Monday, when

the S&P 500 and the Nasdaq climbed to record

closing highs on strength in megacaps including Alphabet

ahead of its quarterly results.

Attention will be on defense firms RTX and Lockheed

Martin ( LMT ) on the day, along with consumer companies

Coca-Cola and Philip Morris International ( PM ), all set

to report before the opening bell.

A solid earnings season and signs of a resilient economy

have pushed the main U.S. stock indexes to all-time highs

despite concerns about President Donald Trump's shifting tariff

policies.

Negotiations appeared to remain deadlocked as the European

Union explores a wider array of possible countermeasures against

the U.S. Meanwhile, prospects of an interim trade deal between

India and the United States have dimmed, Indian government

sources said.

U.S. Treasury Secretary Scott Bessent denied any urgency to

strike deals just to meet Trump's August 1 deadline.

Still, positive earnings surprises kept markets near peaks.

Analysts on average expect S&P 500 companies to report a 6.7%

increase in earnings for the second quarter, with Big Tech

driving much of that gain, according to data compiled by LSEG.

Google-parent Alphabet and EV-maker Tesla will

inaugurate quarterly results for the "Magnificent Seven" stocks

on Wednesday, setting the tone for Wall Street.

Shares of Tesla were down 0.56% in premarket trading, having

fallen about 19% so far in 2025 amid CEO Elon Musk's political

involvement and the challenges its core business faces.

U.S. Federal Reserve Chair Jerome Powell's speech at 8:30 

a.m. ET will be closely watched for clues about the central

bank's next policy move.

After a slew of mixed economic data last week, traders have

ruled out the possibility of an interest-rate cut next week and

see a 56.3% chance of a reduction in September, according to the

CME FedWatch tool.

The Fed's reluctance to cut borrowing costs has drawn

criticism from the Trump administration, sparking speculation

the central bank's independence is threatened and that Powell

will be replaced. Bessent claimed on Monday he wanted to review

the Fed's performance as an institution.

Among other movers, U.S. coal miners Peabody Energy ( BTU )

and Warrior Met Coal ( HCC ) were up 4.8% and 4.1%,

respectively, as China's coking coal prices surged amid market

speculation about government inspections in major production

hubs.