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Futures: Dow down 0.05%, S&P 500 up 0.06%, Nasdaq up 0.07%

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Recursion Pharmaceuticals ( RXRX ) rises after 20% staff reduction

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Second day of US-China trade talks being held in London

(Updates with prices)

By Kanchana Chakravarty and Sukriti Gupta

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

on Tuesday as investors awaited the outcome of ongoing trade

talks between the United States and China aimed at cooling a

tariff dispute that has bruised global markets this year.

U.S. Commerce Secretary Howard Lutnick said trade talks

with China were going well as the two sides met for a second day

in London.

Investors are hoping for an improvement in ties after the

relief around a preliminary deal struck last month gave way to

fresh doubts when Washington accused Beijing of blocking exports

critical to sectors such as 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 06:42 a.m. ET, Dow E-minis were down 21 points,

or 0.05%, S&P 500 E-minis were up 3.75 points, or 0.06%,

and Nasdaq 100 E-minis were up 16 points, or 0.07%.

U.S. equities rallied sharply in May, with the S&P 500 index

and the tech-heavy Nasdaq marking their best

monthly gains 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.

Most megacap and growth stocks were mixed in premarket

trading. Tesla shares advanced 2.2%.

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 0.4%

while Pfizer ( PFE ) inched down 0.1%.

Recursion Pharmaceuticals ( RXRX ) advanced 2.5% after

the biotech said it will lay off around 20% of its workforce and

focus on developing drugs for rare diseases and cancers to

reduce cash burn during a prolonged industry downturn.