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Honeywell ( HON ) to separate aerospace and automation businesses

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Tapestry up after raising annual sales and profit forecast

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Futures: Dow up 0.08%, S&P 500 up 0.19%, Nasdaq down 0.01%

(Updates prices before markets open)

By Shashwat Chauhan and Sukriti Gupta

Feb 6 (Reuters) -

Wall Street was on track for a flat opening on Thursday as

investors evaluated earnings from companies including Honeywell ( HON )

and markets awaited U.S. President Donald Trump's next move on

trade restrictions and other federal policies.

Shares of industrial and aerospace giant Honeywell ( HON )

fell 3.5% after it said it would split into three

independently listed companies and forecast downbeat sales and

profit for 2025.

Drugmaker Eli Lilly rose 1.4% after forecasting

annual profit largely above estimates, while Coach-parent

Tapestry jumped 16.5% after it raised its annual sales

and profit forecast.

Amazon.com ( AMZN ), which is set to report after markets

close, is under pressure to deliver on lofty cloud computing

expectations.

At 08:32 a.m. ET, Dow E-minis were up 35

points, or 0.08%, S&P 500 E-minis were up 11.5 points,

or 0.19%, and Nasdaq 100 E-minis were down 1.25 points,

or 0.01%.

Markets saw a dismal start to the week when Trump announced

sweeping trade tariffs over the weekend, but suspended the

levies on goods from Mexico and Canada on Monday for a month.

Although many uncertainties remain under Trump's new

administration, Wall Street was relieved that things were not

worse, particularly with regard to counter-tariffs against the

United States from Beijing.

"There's so many moving parts with the new administration

and new executive orders every day... it doesn't surprise me

that the market has been vacillating between optimism and

pessimism since (the start of the year)," said Peter Andersen,

founder of Andersen Capital Management.

Federal Reserve Vice Chair Philip Jefferson said overnight

that he was content to keep interest rates steady until

policymakers had a better sense of the net effects of the Trump

administration's policies on tariffs, immigration, deregulation

and taxes.

Traders do not expect the Fed to make a move on interest

rates in its next meeting in March, but a cut is widely

anticipated in June, according to the CME's FedWatch.

Analysts have broadly estimated that Trump's tariff plans

could spur domestic inflation and likely slow the Fed's pace of

rate cuts.

Meanwhile, the number of Americans filing new applications

for unemployment benefits last week stood at 219,000, compared

to an estimated 213,000, according to economists polled by

Reuters.

The crucial January nonfarm payrolls report is due on

Friday.

All three major indexes closed higher in a choppy session on

Wednesday, bringing the S&P 500 about 1% away from its

all-time high.

U.S.-listed shares of Arm Holdings dropped 5% after

the chip-tech provider said it would no longer meet the top end

of its previous full-year forecast, despite topping

current-quarter expectations.

Qualcomm ( QCOM ) fell 5% after the chip designer's

executives said its lucrative patent-licensing business would

not see sales growth this year after a license agreement with

Huawei Technologies expired.

Ford Motor ( F ) lost 5.2% after the automaker forecast up

to $5.5 billion in losses in its electric-vehicle and software

operations this year.

Skyworks Solutions ( SWKS ) plunged 28% after the Apple

supplier forecast declines in revenue in its mobile segment and

projected current-quarter profits below estimates.

(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru;

Editing by Pooja Desai and Shinjini Ganguli)