US STOCKS-Futures steady after Monday's drastic selloff

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* Futures up: Dow 0.70%, S&P 0.83%, Nasdaq 1.11%

By Sruthi Shankar
May 14 (Reuters) - U.S. stock index futures indicated gains
at the open on Tuesday, as optimistic comments from Washington
and Beijing took the edge off market concerns about a further
escalation in trade war.
The prospects of global economy being derailed by the United
States and China sliding into a fiercer, more protracted dispute
had rattled investors on Monday after China announced plans to
hit back with tariffs on U.S. goods.
Wall Street witnessed one of its worst selloffs in the
previous session. The S&P 500 .SPX and the Dow .DJI recorded
their largest percentage drop since Jan.3 and the tech-heavy
Nasdaq .IXIC logged its worst day as investors scoured for
safety in low-risk assets.
However, on Tuesday, the Chinese government said both sides
have agreed to keep talking about their trade dispute, helping
inject some calm into markets, with European markets and U.S.
futures back in the positive. GLOB/MKTS
U.S. President Donald Trump said on Monday he would talk to
Chinese President Xi Jinping at G20 Summit in late June.
At 7:27 a.m. ET, Dow e-minis 1YMc1 were up 178 points, or
0.7%. S&P 500 e-minis ESc1 were up 23.25 points, or 0.83% and
Nasdaq 100 e-minis NQc1 were up 81 points, or 1.11%.
The recent run of losses has knocked off nearly 5% off the
S&P 500 since hitting an all-time high on May 1.
Apple Inc shares APPL.O , among the worst hit on Monday,
gained 1.2% in premarket trading along with a host of chipmakers
including Micron Technology Inc MU.O , Nvidia Corp NVDA.O and
Advanced Micro Devices AMD.O .
Coca-Cola Co's shares KO.N rose 1% after Morgan Stanley
upgraded the stock to "overweight", saying higher growth has not
been priced into the stock's valuation. Take-Two Interactive Software Inc TTWO.O fell 1% after the
gaming company forecast first-quarter sales below analysts'
expectations as it faces intense competition from free-to-play
"battle royale" games "Fortnite" and "PUBG". Deere & Co DE.N fell 1.2% after JP Morgan downgraded
shares of the tractor maker to "underweight" from "neutral".
In economic data, a Labor Department report due at 8:30 a.m.
ET is likely to show a 0.7% rise in import prices in April,
after having risen 0.6% in March.