* Futures rise: Dow 0.05%, S&P 0.14%, Nasdaq 0.39%

* Atlassian ( TEAM ) surges after Q4 profit, revenue beat

* S&P 500, Dow set for best weekly showing since April

* July nonfarm payrolls data due at 8:30 am ET

(Updates prices, adds analyst comment and details)

By Johann M Cherian and Shashwat Chauhan

Aug 7 (Reuters) - Wall Street futures edged higher on Friday

as investors awaited a key U.S. employment report that is

expected to influence the course of monetary policy, while

strong forecasts from Microchip Technology ( MCHP ) and Atlassian ( TEAM )

buoyedsentiment.

Collaboration software maker Atlassian ( TEAM ) jumped 31.6%

in premarket trading while chip company Microchip Tech ( MCHP )

advanced 8.9% after both forecast quarterly revenue above

estimates.

The main U.S. indexes were headed for strong weekly gains,

with the S&P 500 and the Dow on track for their best week since

April and the Nasdaq set for its biggest advance since May, if

gains hold.

Better-than-expected results from AI-related companies this

earnings season have propelled the Dow and the S&P 500 to fresh

record highs, while helping the Nasdaq recover from a pullback

that had briefly pushed it nearly 10% below its previous peak.

Cybersecurity company Cloudflare ( NET ) gained 16.1% after

raising its full-year revenue forecast above estimates.

The results also lifted the broader sectors, with chip

stocks Marvell ( MRVL ) and Micron up 2.4% and 1%,

respectively. Software stocks also rose; Palo Alto

gained 2.2% and ServiceNow ( NOW ) added 3.7%.

In a move to support domestic production, the White House

imposed a series of price floors and a 15% tariff on products

made from polysilicon, the raw material used in semiconductors

and solar panels that is primarily produced by China.

Solar stocks also gained. First Solar ( FSLR ) was up 6.1%

and SolarEdge ( SEDG ) climbed 1.5% following U.S. President

Donald Trump's trade actions to challenge Beijing's polysilicon

monopoly.

At 06:56 a.m. ET, Dow E-minis rose 27 points, or

0.05%, S&P 500 E-minis gained 11 points, or 0.14%, and

Nasdaq 100 E-minis were up 115 points, or 0.39%.

EYES ON JOBS DATA

The Labor Department will release the nonfarm payrolls

figures for July at 8:30 a.m. ET, with the economy expected to

have added 80,000 jobs, up from the 57,000 the previous month.

The unemployment rate and average annual earnings are expected

to stay steady from the month before at 4.2% and 3.5%,

respectively.

"A stronger labor market would add to the notion that the

economy remains resilient which could support the case for a

rate hike if inflation were to prove stubborn," Erik Liem, rates

strategist at Commerzbank, said in a note.

The U.S. Federal Reserve under new Chair Kevin Warsh has

offered investors little information on forward guidance

regarding monetary policy, sharpening the focus on economic data

and commentary from policymakers.

The probability of no change versus an interest-rate hike in

September is now closer to even, the CME FedWatch Tool showed.

Last week, traders were pricing in a 37% chance for rates

staying unchanged versus 63% for a rate increase.

Short-term Treasury yields, a reflection of

short-term interest rate expectations, hovered above 4% as crude

prices inched up above $83 a barrel, adding to inflation

concerns.

Tensions flared again after Yemen's Iran-aligned Houthis

attacked Saudi Arabia, while a report said Iran is reviewing a

preliminary bill that would bar U.S., Israeli and other

"hostile" vessels from transiting the Strait of Hormuz and would

impose fines of up to 20% of a ship's cargo value for

violations.

Vacation rental company Airbnb ( ABNB ) gained 7.5% after

beating second-quarter revenue estimates, helped by strong

global demand for travel and a boost from first-time users

during the FIFA World Cup.