* Futures mixed: Dow up 0.2%, S&P 500 up 0.02%, Nasdaq down

0.3%

* Delta Airlines edges up after upbeat Q3 outlook

* Crypto stocks rise, tracking bitcoin gains

(Updates prices)

By Ragini Mathur and Avinash P

July 10 (Reuters) - U.S. stock futures were mixed on Friday

after a strong rally on Wall Street, as investors awaited the

highly anticipated Nasdaq debut of South Korean chip bellwether

SK Hynix and assessed the impact of the latest escalations in

the Middle East conflict.

The main U.S. indexes closed higher in the previous session,

powered by gains in chipmakers. As of Thursday's close, the S&P

500 and the Nasdaq were on track for weekly

gains, with the AI trade back in focus ahead of SK Hynix's

high-profile U.S. listing later on Friday.

The memory-chip maker raised about $26.5 billion, selling

its American Depositary Receipts priced at $149. The offering is

set to be the world's biggest share sale after SpaceX's

record-breaking IPO last month.

"SK Hynix's U.S. listing has arguably come a few months too

late as shares in memory chip suppliers have pulled back after a

purple patch earlier in the year," said Dan Coatsworth, head of

markets at AJ Bell.

"However, demand for the U.S. share sale has been stronger

than some people might have expected. That implies the memory

chip rally might have just taken a breath rather than peaked."

Chipmakers have been among the biggest beneficiaries of this

year's AI-driven rally, fueled by expectations of heavy spending

on data centers and AI infrastructure. But concerns over

stretched valuations and profit taking have recently injected

volatility into the sector.

Semiconductor stocks were under pressure in premarket

trading, with Intel ( INTC ) falling about 3%. Memory-chip maker

Micron Technology ( MU ) eased 1.3% after gaining 4.5% in the

previous session.

At 06:59 a.m. ET, Dow E-minis were up 124 points, or

0.24%, and S&P 500 E-minis were up 1.5 points, or 0.02%.

Nasdaq 100 E-minis were down 88.25 points, or 0.29%.

Geopolitical risks also kept investors on edge after the

Iranian armed forces launched attacks on U.S. military

infrastructure in the Gulf states on Thursday, following U.S.

strikes on Iran's southern coastal and eastern provinces.

The latest escalation revived concerns about the

inflationary impact of the war.

New York Federal Reserve President John Williams said on

Thursday he did not expect Middle East hostilities to cause a

sustained rise in energy prices for the rest of the year.

U.S. Federal Reserve Chair Kevin Warsh is scheduled to

testify before the House Committee on Financial Services next

week.

Markets are pricing in at least one 25-basis-point rate hike

by the end of 2026, according to LSEG data.

Delta Air Lines ( DAL ) rose nearly 1% after forecasting

third-quarter profit above expectations.

Crypto-related stocks advanced, tracking gains in bitcoin

.

Strategy gained 5.6%, while Coinbase and

Riot Platforms ( RIOT ) added 3.9% and 2.3%, respectively.

Earnings are set to gather pace next week, with analysts

expecting S&P 500 earnings to rise 24% from a year earlier, with

technology companies driving much of the growth, according to

data compiled by LSEG.

(Reporting by Ragini Mathur and Avinash P in Bengaluru; Editing

by Pooja Desai and Shinjini Ganguli)