US STOCKS-Futures edge higher ahead of bumper earnings week

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* Futures up: Dow 0.23%, S&P 0.29%, Nasdaq 0.46%

By Amy Caren Daniel
July 22 (Reuters) - U.S. stock index futures rose slightly
on Monday as investors geared up for a busy week of corporate
earnings, with results from major companies including Facebook
and Amazon on tap.
Second-quarter earnings started off on a dour note last week
as major banks reported results, which raised concerns about
their profit growth in a low interest rate environment.
The main indexes ended the week lower for the first time in
three weeks as hopes of a steep 50 basis points rate cut at the
Federal Reserve's policy-setting meeting on July 30-31 were
scaled down following a Wall Street Journal report.
As the earnings season progresses, profits at S&P 500
companies are now estimated to rise 1%, according to Refinitiv
IBES data, in a reversal from earlier expectations of a small
drop.
Investors will parse through company results to gauge the
impact that the trade war has had on corporate profits, to see
whether corporate results are poor enough to persuade the Fed to
take strong action this year.
Hopes of an interest rate cut by the Federal Reserve helped
spur a rally in stocks this year that has helped Wall Street's
main indexes scale new record highs.
Marquee technology companies Facebook Inc FB.O , Amazon.com
Inc AMZN.O and Google-parent Alphabet Inc GOOGL.O were up
between 0.3% and 0.6% in premarket trade, and are set to report
results on Wednesday and Thursday.
At 6:44 a.m. ET, Dow e-minis 1YMcv1 were up 62 points, or
0.23%. S&P 500 e-minis EScv1 were up 8.5 points, or 0.29% and
Nasdaq 100 e-minis NQcv1 were up 36.25 points, or 0.46%.
Chipmaker Micron Technology Inc MU.O rose nearly 4%, while
Applied Materials Inc AMAT.O and Advanced Micro Devices Inc
AMD.O gained 2.9% and 1% respectively.
The stocks likely got a boost from news that the White House
economic adviser Larry Kudlow will host a meeting with
semiconductor and software executives on Monday to discuss the
U.S. ban on sales to China's Huawei Technologies Co Ltd
HWT.UL . Micron's shares were also lifted by a report that Goldman
Sachs upgraded its shares to "buy" from "neutral".
Among other stocks, Walt Disney Co DIS.N rose 1% after its
remake of "The Lion King" movie collected $185 million over the
weekend and as Marvel Studios superhero movie "Avengers:
Endgame" set an all-time box office record.