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Futures off: Dow 0.12%, S&P 500 0.06%, Nasdaq 0.03%

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Interactive Brokers ( IBKR ) up on S&P 500 inclusion

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EchoStar ( SATS ) jumps after AT&T ( T ) to buy spectrum licenses for $23

bln

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AMD gains on Truist Securities' bullish upgrade

(Updates with prices throughout; adds EchoStar ( SATS ), AT&T ( T ) news)

By Johann M Cherian and Sanchayaita Roy

Aug 26 (Reuters) - U.S. stock index futures slipped on

Tuesday, pressured by a rise in longer-dated Treasury bond

yields as President Donald Trump's decision to fire a Federal

Reserve governor renewed concerns about the central bank's

independence.

Investors also awaited Nvidia's ( NVDA ) results and a key

inflation report later this week for more insight on artificial

intelligence and interest rate cuts - the two big themes behind

recent market gains.

The chip giant's shares were marginally higher in premarket

trading.

In an unprecedented move, Trump said he was removing

Governor Lisa Cook over alleged improprieties in obtaining

mortgage loans, prompting investor unease about what it could

also mean for the outlook on monetary policy just weeks ahead of

the Fed's meeting.

Trump's action is likely to face legal challenges but, if

successful, it would let him nominate a new member to the

central bank's board at a time when he has called for lower

interest rates.

"Trump already appointed a majority of Fed governors,

without changing policy independence. If the dismissal survives

the courts, the Senate must confirm any successor. Fed

presidents still have policy votes. Faith in these checks may

limit the negative market reaction," said Paul Donovan, chief

economist at UBS Global Wealth Management.

Despite lingering inflation pressures, traders have been

pricing in a 25-basis-point interest rate cut for September,

encouraged by dovish signals from Fed Chair Jerome Powell, data

pointing to labor market weakness and the likelihood that Trump

nominee Stephen Miran could fill up a recent central bank

vacancy.

However, key upcoming inflation and jobs reports could

prompt investors to reassess rate-cut expectations.

At 07:01 a.m. ET, Dow E-minis were down 56 points,

or 0.12%, S&P 500 E-minis were down 3.75 points, or

0.06%, and Nasdaq 100 E-minis were down 8 points, or

0.03%

U.S. 10-year and 30-year Treasuries

also fell and the dollar declined against major currency

pairs. Bond yields move inversely to prices.

Nvidia's ( NVDA ) results on Wednesday will be a major catalyst for

U.S. stocks that have rallied over the past few years on the

potential earnings growth from AI. Investors will also look for

details on how the recent revenue-sharing deal with the U.S.

government could impact forecasts.

The AI enthusiasm has also pushed up valuations of Wall

Street's benchmark S&P 500 to above long-term averages,

heightening the risk of a selloff in case the chip giant falls

short of market expectations.

Advanced Micro Devices ( AMD ) gained 2.9% after Truist

Securities upgraded the chip stock to "buy" from "hold".

Interactive Brokers ( IBKR ) rose 4.2% as the trading

platform is set to join the S&P 500 before markets open on

August 28.

EchoStar ( SATS ) jumped 84.6% after telecom giant AT&T ( T )

said it has agreed to buy certain wireless spectrum

licenses from the satellite communications firm for about $23

billion.

Monthly reports on durable goods and the Conference Board's

consumer confidence data are expected later in the day, along

with remarks from Richmond Fed President Thomas Barkin.

On the trade front, Trump threatened countries that have

digital taxes with "subsequent additional tariffs" if those

nations do not remove such legislation, while India is expected

to face duties starting on Wednesday.

(Reporting by Johann M Cherian in Bengaluru; Editing by Devika

Syamnath)