July 25 (Reuters) - U.S. stock futures pointed to a steady open on Friday following record closes for the S&P 500 and the Nasdaq in the previous session, while investors looked for signs of progress in trade talks as they braced for the August 1 tariff deadline.
At 08:09 a.m. ET, Dow E-minis were up 33 points, or 0.07%, S&P 500 E-minis were up 4.25 points, or 0.07%, and Nasdaq 100 E-minis were down 12.5 points, or 0.05%.
The blue-chip Dow fell 0.7% in Thursday's session, but stayed close to its all-time high, last hit in December.
All three major indexes were poised to cap the week on a high note, as a flurry of tariff agreements between the United States and its trading partners - including Japan, Indonesia, and the Philippines - helped drive markets to new highs.
Expectations were rife the European Union would soon sign an agreement with Washington, while negotiations with South Korea gathered momentum ahead of the August 1 deadline set for most countries, as economies worldwide scrambled to avoid steep U.S. import tariffs.
"Tariff headlines are driving market risk sentiment, fuelling a risk-on mood this week. However, some volatility near the August 1st deadline remains possible," a group of analysts led by Adam Kurpiel at Societe Generale said.
A spate of upbeat second-quarter earnings also supported Wall Street's record run. Of the 152 companies in the S&P 500 that reported earnings as of Thursday, 80.3% reported above analyst expectations, according to data compiled by LSEG.
However, there were a few setbacks during the week. Heavyweights Tesla (TSLA.O), and General Motors (GM.N), stumbled and were on track for their steepest weekly declines in nearly two months.
Tesla CEO Elon Musk warned of tougher quarters ahead amid shrinking U.S. EV subsidies, while General Motors took a hit after absorbing a $1.1 billion blow from President Donald Trump's sweeping tariffs in its second-quarter earnings.
Intel (INTC.O), fell 7.5% in premarket trading on Friday after the chipmaker forecast steeper third-quarter losses than Street expectations and announced plans to slash jobs.
All eyes will be on the U.S. Federal Reserve's monetary policy meeting next week, with bets indicating that policymakers are likely to keep interest rates unchanged as they evaluate the effects of tariffs on inflation.
The central bank is under immense scrutiny from the White House, with President Trump leading a censure campaign against Chair Jerome Powell for not reducing borrowing costs, while often hinting that he would sack the top policymaker.
In a surprise move, Trump escalated the pressure by making a rare visit to the Fed headquarters on Thursday, where he criticized its $2.5-billion renovation project.
Uncertainty over Powell's tenure is prompting investors to assess potential market reactions in the event of a change in leadership at the central bank.
According to CME's FedWatch tool, traders now see a nearly 60.5% chance of a rate cut as soon as September.
Among other stocks, Newmont (NEM.N), added 2.3% after the gold miner surpassed Wall Street expectations for second-quarter profit.
Health insurer Centene (CNC.N), posted a surprise quarterly loss, sending its shares tumbling 15%.
Deckers Outdoor <DECK.N surged 13.1% after resilient demand for its sneakers and boots helped the Hoka parent beat first-quarter revenue and profit estimates.
Paramount Global (PARA.O), rose 1.3% after U.S. regulators approved its $8.4 billion merger with Skydance Media.
Reporting by Nikhil Sharma and Pranav Kashyap in Bengaluru; Editing by Pooja Desai
