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* Futures: Dow down 0.3%, S&P 500 up 0.23%, Nasdaq up

0.82%

May 13 (Reuters) - S&P 500 and Nasdaq futures rose on

Wednesday, recovering from the previous session's losses as

investors awaited crucial economic numbers and U.S. President

Donald Trump's China visit, even as hope for a lasting peace

deal with Iran dimmed.

Talks between the two sides have hit a stalemate. Trump said

ahead of the high-stakes summit in Beijing that he did not

expect to ask Chinese President Xi Jinping to help resolve the

conflict with Tehran.

He also said he would press Xi to "open up" China to U.S.

businesses and added Nvidia CEO Jensen Huang to a delegation of

corporate leaders traveling with him. The world's two largest

economies are also considering extending a truce on Chinese rare

earth export curbs.

Meanwhile, oil prices fell on the day, snapping a

three-session rally and offering markets some relief.

Investors remain wary that a prolonged conflict could keep

energy prices elevated, adding to inflationary pressures and

muddying the U.S. Federal Reserve's policy outlook.

Markets are also bracing for a potentially more hawkish

central bank under Kevin Warsh, whom the Senate confirmed to the

board on Tuesday and could move to approve as chair as soon as

Wednesday. Jerome Powell's term ends on Friday.

At 05:35 a.m. ET, Dow E-minis fell 149 points, or

0.3%, S&P 500 E-minis rose 16.75 points, or 0.23%, and

Nasdaq 100 E-minis gained 239.75 points, or 0.82%.

The S&P 500 and the Nasdaq Composite eased

from record highs on Tuesday after U.S. consumer inflation

posted its sharpest increase in three years in April.

Markets have largely priced out a Fed rate cut this year,

while the probability of at least a 25-basis-point hike at the

December meeting has climbed to more than 28%, from below 22%

earlier in the week, according to CME's FedWatch Tool.

Producer price data is due at 8:30 a.m. ET and investors

will be watching for signs of building input cost pressures.

Retail sales figures later in the week will also be

scrutinized for evidence that higher gasoline and energy costs

are starting to squeeze other areas of consumer spending.

A chip-stock selloff that weighed on markets in the previous

session appeared to stabilize on Wednesday, with memory-chip

makers leading the recovery.

Micron Technology ( MU ) jumped 6.2%, Western Digital ( WDC )

rose 3.1%, Seagate ( STX ) gained 2.8% and SanDisk ( SNDK )

climbed 5.3% in premarket trading.