* Futures up: Dow 0.1%, S&P 500 0.4%, Nasdaq 0.8%

* Domino's Pizza gains after Q2 revenue beat

* Memory chipmakers lead gains

* Alphabet, Tesla and Intel ( INTC ) to report earnings later in the

week

(Updates before market open)

By Ragini Mathur and Avinash P

July 20 (Reuters) - Wall Street's main indexes were on track

to open higher on Monday, as chip stocks recovered from last

week's pullback and investors awaited a key slate of earnings

from major technology companies that have powered the market's

AI-driven rally.

The second-quarter earnings season will pick up pace later

this week, with reports due from several major companies,

including Alphabet, Tesla, Intel ( INTC ) and

IBM ( IBM ).

Investors will closely watch earnings from Intel ( INTC ) and Texas

Instruments ( TXN ) for signals on whether the semiconductor

sector can regain momentum after a sharp reversal.

A surge in AI capital spending by hyperscalers has been a

major driver behind this year's market gains, lifting chip

stocks and other companies that are seen as the beneficiaries of

the buildout, and helping the tech-heavy U.S. indexes hit record

highs.

But last week's pullback raised concerns that the rally had

run too far.

The Philadelphia SE Semiconductor Index ended Friday

more than 20% below its late-June record high, confirming a

bear-market decline. It was still up about 65% year to date.

On Monday, memory chipmakers were leading the gains in

broadly higher semiconductor stocks.

Western Digital ( WDC ), Seagate Technology ( STX ), Micron

Technology ( MU ) and SanDisk ( SNDK ) were up between 3.7% and

4.7% in premarket trading.

"There's just a little less room for error in the market at

this point. Any sort of events or earnings news could probably

move the market down," said Jack Herr, senior investment analyst

at GuideStone Funds.

"As we move into the second half of the year, market

expectations are higher than they were before".

Markets are expecting S&P 500 earnings growth of 26% for the

second quarter, year-on-year, up from an earlier estimate of

23.7%, according to data compiled by LSEG.

At 08:44 a.m. ET, Dow E-minis were up 73 points, or

0.14%, and S&P 500 E-minis were up 27.75 points, or

0.37%. Nasdaq 100 E-minis were up 235 points, or 0.82%.

Last week's declines in major U.S. indexes came despite

benign inflation data that eased some concerns about a Federal

Reserve rate increase this month, and a solid start to

second-quarter earnings season from major U.S. banks.

Markets are pricing in about a 12% chance of a quarter-point

rate hike at the Fed's July meeting and a roughly 53% chance of

another hike in September, according to CME's FedWatch tool.

Investors were closely watching the developments in the

U.S.-Israeli war with Iran after a recent escalation in the

nearly five-month-old conflict.

Brent crude briefly climbed above $90 a barrel for

the first time since early June on renewed disruption to

shipping through the Strait of Hormuz after Iran's Foreign

Ministry said mediators had recently presented proposals to

Tehran.

Among other premarket movers, Domino's Pizza gained

6.2% after the pizza chain's quarterly revenue edged past Wall

Street estimates.

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

by Shinjini Ganguli)