US STOCKS-Wall St set for higher open as recovery hopes outweigh Sino-U.S.tensions

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* Airlines, cruise operators climb as lockdowns ease
* Fed's Beige Book expected later in the day
* Futures up: Dow 1.33%, S&P 1.04%, Nasdaq 0.46%

(Adds quote, details; updates prices)
By Medha Singh
May 27 (Reuters) - Wall Street's major indexes were set for
another session of gains on Wednesday as a revival in business
activity drove hopes of an economic recovery, eclipsing concerns
over simmering tensions between the United States and China.
Travel-related stocks, which were among the worst hit in the
sell-off earlier this year, continued to outperform.
United Airlines Holdings Inc UAL.O , American Airlines
Group Inc AAL.O and Norwegian Cruise Line Holdings Ltd.
NCLH.N jumped between 10% and 12% in premarket trade.
The easing of lockdowns, optimism about an eventual COVID-19
vaccine and the unprecedented monetary and fiscal stimulus have
powered a recent rally, helping the S&P 500 .SPX end at its
highest level since early March on Tuesday.
However, Sino-U.S. worries dented the sentiment late in the
session and the benchmark index closed short of 3,000 points, a
key psychological level, and below its 200-day moving average,
which has acted as a resistance level.
President Donald Trump said the United States would announce
its response to China's planned national security legislation
for Hong Kong before the end of the week. "The market's ability to compartmentalize U.S.-China
tensions away from the bullish for risk reopening narrative, is
a testament to the incredulous amounts of stimulus provided by
central banks and government around the world," said Stephen
Innes, chief market strategist at financial services firm
AxiCorp.
At 7:53 a.m. ET, S&P 500 e-minis EScv1 were up 1.04% at
3,025 points. Dow e-minis 1YMcv1 were up 332 points, or 1.33%
and Nasdaq 100 e-minis NQcv1 were up 43.25 points, or 0.46%.
Planemaker Boeing Co BA.N is expected to announce U.S. job
cuts this week, people briefed on the plans and a union said.
Its shares rose 3.1%. Walt Disney Co DIS.N was set to announce its proposal for
a phased reopening of its Orlando, Florida, theme parks to a
local task force on Wednesday. Disney shares gained 2.5%.
Investors will also turn to the U.S. Federal Reserve's Beige
Book of economic condition scheduled for release at 2 p.m. ET
(1800 GMT).