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Futures: Dow down 0.08%, S&P 500 up 0.05%, Nasdaq up 0.06%

June 10 (Reuters) - U.S. stock index futures were

subdued on Tuesday as investors awaited the outcome of a second

day of trade talks between the United States and China aimed at

cooling a tariff dispute that has bruised global markets this

year.

Investors are hoping for an improvement in ties after the

relief sparked by a preliminary deal agreed in Geneva last month

gave way to fresh doubts when Washington accused Beijing of

blocking exports that are critical to sectors including autos,

aerospace, semiconductors and defense.

White House economic adviser Kevin Hassett said on Monday

the U.S. was likely to agree to lift export controls on some

semiconductors in return for China speeding up the delivery of

rare earths.

"The pause in tariff hostilities is a positive starting

point as the U.S. seeks the restoration of rare earth mineral

exports from China which would inevitably result in a mutual

relaxation," Richard Hunter, head of markets at interactive

investor, said in a morning note.

At 05:44 a.m. ET, Dow E-minis were down 35 points,

or 0.08%, S&P 500 E-minis were up 2.75 points, or 0.05%.

Nasdaq 100 E-minis were up 12.25 points, or 0.06%

U.S. equities rallied sharply in May, with investors

boosting the S&P 500 index and the tech-heavy Nasdaq

to their biggest monthly percentage gain since November

2023, helped by upbeat earnings reports and a softening of

President Donald Trump's harsh trade stance.

The S&P 500 remains a little over 2% below all-time highs

touched in February, while the Nasdaq is about 3% below its

record peaks reached in December.

Investors are awaiting U.S. consumer prices data on

Wednesday for clues on the Federal Reserve's rate trajectory.

While traders largely expect the Fed to keep interest rates

unchanged next week, focus will be on any signs of pick-up in

inflation as Trump's tariffs risk raising price pressures.

Traders see at least two 25-basis point cuts by year-end,

with a 63% chance of the first cut in September, according to

the CME FedWatch tool.

Shares of vaccine makers dipped in premarket trading. Health

Secretary Robert F. Kennedy Jr. ousted all 17 members of a U.S.

Centers for Disease Control and Prevention panel of vaccine

experts and is in the process of replacing them, his department

announced on Monday.

Shares of vaccine maker Moderna ( MRNA ) were down 0.5%

while Pfizer ( PFE ) inched down 0.1%.

(Reporting by Kanchana Chakravarty in Bengaluru; Editing by

Devika Syamnath)