* Futures up: Dow 0.41%, S&P 0.23%, Nasdaq 0.13%

* Intel ( INTC ) rises on upbeat quarterly revenue, profit forecast

* Oracle up on $7 billion Pentagon software contract

(Updates before markets open)

By Ragini Mathur and Avinash P

July 24 (Reuters) - Wall Street's main indexes were set to

open higher on Friday after a tech-led selloff in the previous

session, as investors digested fresh earnings, escalating Middle

East tensions and a new tariff announcement from the Trump

administration.

Intel ( INTC ) added to this week's key earnings reports,

forecasting quarterly profit and revenue above Wall Street

estimates and outlining plans to increase spending over the next

two years. The chipmaker's shares rose 3.3% in premarket

trading.

The broader semiconductor sector, however, remained subdued.

The S&P 500 and the Nasdaq posted their

steepest one-day declines in a month on Thursday as concerns

mounted over the AI trade.

Results from Alphabet and Tesla

heightened investor unease about rising capital spending and

cash burn among major technology companies, setting a cautious

tone ahead of next week's earnings from Microsoft ( MSFT ),

Amazon ( AMZN ) and Meta.

"With AI remaining the dominant investment theme, markets

are becoming increasingly selective, rewarding strong execution

while showing less tolerance for elevated spending without a

clear path to returns," said Daniela Hathorn, senior market

analyst at Capital.com.

Meanwhile, the Trump administration imposed new tariffs of

10% and 12.5% on goods from 60 trading partners, citing lax

enforcement of forced-labor bans. The move came as a temporary

10% global tariff expired.

Geopolitical risks were in focus after President Donald

Trump threatened "major military punishment" for Iran and its

Houthi allies, following attacks by Yemeni fighters on two Saudi

oil tankers in the Red Sea.

Oil prices surged above $100 a barrel on Thursday as

investors reassessed the risk of a prolonged disruption to

energy supplies.

Despite prices easing on Friday, a sustained energy shock

could rekindle global inflation concerns and prompt central

banks to recalibrate monetary policy.

The Federal Reserve is due to meet next week, with markets

pricing in a roughly one-in-three chance of a rate hike, up from

12% a week earlier, according to CME's FedWatch tool.

Investors will also watch next week's PCE data, the Fed's

preferred inflation gauge, due a day after the policy decision.

At 8:37 a.m. ET, Dow E-minis were up 214 points, or

0.41%, and S&P 500 E-minis were up 17 points, or 0.23%.

Nasdaq 100 E-minis were up 37.5 points, or 0.13%.

The S&P 500 and the Nasdaq were on track for a second

straight weekly loss, while the Dow was set for a third

consecutive week of declines.

Oracle gained 2.3% after the Pentagon announced a

nearly $7 billion agreement, running for up to 10 years, to

consolidate the department's on-premises software licenses with

the cloud firm under a single contract.

Later in the session, investors will parse the preliminary

July PMI (purchasing managers' index) data at 9:45 a.m. ET for

an updated reading on U.S. manufacturing and services activity.