US STOCKS-Futures edge higher with trade talks in focus

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* Futures up: Dow 0.17%, S&P 0.16%, Nasdaq 0.19%

By Shreyashi Sanyal
June 24 (Reuters) - U.S. stock index futures edged higher on
Monday, with investors hoping that the upcoming U.S.-China trade
talks will help de-escalate a trade war that is damaging the
global economy.
The S&P 500 index .SPX hit a record high last week,
boosted by rising expectations of a cut in interest rates and
optimism over a revival in trade talks between the United States
and China. Investors are awaiting an expected meeting between
Presidents Donald Trump and Xi Jinping later this week on the
sidelines of the G20 summit in Japan.
"It's great that they are going to be sitting down in a room
for a meeting and if they are in the room there is possibility
for some improvements," said David Madden, an analyst at CMC
Markets in London.
Shares of trade-sensitive Boeing Co BA.N were up 0.2% in
premarket trading, while chip companies, which have a major
exposure to China, also rose.
Investors were also hopeful that the U.S. Federal Reserve
was ready to battle growing risks to global and domestic growth
from the long-drawn trade conflict, after the U.S. central bank
signaled a potential interest rate cut later this year.
At 7:15 a.m. ET, Dow e-minis 1YMcv1 were up 46 points, or
0.17%. S&P 500 e-minis EScv1 were up 4.75 points, or 0.16% and
Nasdaq 100 e-minis NQcv1 were up 14.75 points, or 0.19%.
However, keeping a check on early gains was rising tensions
between the United States and Iran, after Tehran shot down an
American drone last week.
Trump said on Sunday he was not seeking war with Iran after
a senior Iranian military commander warned any conflict in the
Gulf region could spread uncontrollably and threaten the lives
of U.S. troops. Among other stocks, shares of casino operator Caesars
Entertainment Corp CZR.O jumped 12.9% after rival Eldorado
Resorts Inc ERI.O said it agreed to merge with company in a
$17.3 billion deal. Shares of Eldorado fell 5.2%.
United Technologies Corp UTX.N gained 0.7% after Cowen &
Co upgraded shares of the building and aerospace supplier to
"outperform" from "market perform".