US STOCKS-Futures gain on China stimulus, tariff relief

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* Futures up: Dow 0.43%, S&P 0.42%, Nasdaq 0.60%

By Aparajita Saxena
June 11 (Reuters) - U.S. stocks were set to edge back toward
record territory on Tuesday, as signs of more fiscal stimulus
from China and some easing of last week's tensions around Mexico
buoyed investors' appetite for risk.
Equity index futures were higher across the board in a
signal that Wall Street's week-long recovery from a 6% loss in
May appeared intact.
The S&P 500 has risen for five days and the Dow Jones
Industrial Average has gained for six straight days since the
start of June, its longest winning streak in 13 months.
Investors, worried by the prospect that President Donald
Trump's hard bargaining on trade with Beijing and others could
drive the economy back into recession, remained on edge after a
U.S. pivot back on its tariff threat against China overnight.
Trump said late on Monday he was ready to impose another
round of tariffs on Chinese imports if there was no progress in
talks with Chinese President Xi Jinping at the G20 summit.
Trump has said he expects to meet Xi at a June 28-29 summit
in Osaka, Japan, although China has yet to confirm any such
meeting.
Meanwhile, China helped drive a rally in Asian and European
shares by saying it would allow local governments to use
proceeds from special bonds for major investment projects in a
bid to support its slowing economy.
The news also lifted U.S.-listed shares of Alibaba Group
Holdings BABA.N , JD.com Inc JD.O and Baidu Inc BIDU.O ,
which rose between 1.9% and 2.1% in premarket trading.
The marquee FAANG group of stocks - Facebook Inc FB.O ,
Apple Inc AAPL.O , Amazon.com Inc AMZN.O , Netflix Inc
NFLX.O and Alphabet Inc GOOGL.O - climbed between 1% and
1.8%.
At 7:18 a.m. ET, Dow e-minis 1YMc1 were up 111 points, or
0.43%. S&P 500 e-minis ESc1 were up 12.25 points, or 0.42% and
Nasdaq 100 e-minis NQc1 were up 44.75 points, or 0.6%.
Sentiment was also helped by expectations of a cut in
interest rates by the Federal Reserve in July.
Boeing BA.N rose 0.5%, ahead of the release of the
planemaker's May aircraft delivery numbers later in the day.
Symantec Corp SYMC.O fell 4.5% after Morgan Stanley
downgraded the antivirus software maker's stock to "underweight"
from "equal-weight" on increased competition.
On the macro front, the Labor Department is expected to
report producer prices at 8:30 a.m. ET, which is expected to
have edged 0.1% higher in May, after a 0.2% rise in April.