US STOCKS-Wall St set to open higher as focus shifts to US-China trade talks

By Purvi Agarwal and Johann M Cherian

May 9 (Reuters) - U.S. stock index futures pointed to a slightly higher open on Friday as investors assessed fresh comments from President Donald Trump regarding tariffs on China ahead of a key weekend meeting between the two countries.

Futures had moved lower briefly after Trump said Beijing should open its market to the United States and that 80% tariffs on Chinese goods "seems right." The levies are currently at 145%.

Representatives from the world's two biggest economies are scheduled to meet in Switzerland over the weekend to discuss tariffs, with investors hoping the talks will salve a bruising trade war that has raised concerns over global economic growth and left markets, companies and the U.S. Federal Reserve in wait-and-watch mode.

"Anyone who thinks the deal is getting done at 80% is not seeing things clearly. You're going to see that they'll come to something more reasonable over time, but this was a step in the right direction," said Thomas Hayes, chairman at Great Hill Capital.

On Thursday, Wall Street's main indexes closed higher as investors cheered a trade deal struck between Britain and the U.S. - the first of its kind since Trump paused his initial tariffs last month.

Under the new agreement, Britain will lower its tariffs on U.S. goods and provide greater import access, while the U.S.-imposed 10% baselines tariffs will remain in place.

However, the limited nature of the agreement brought up questions about its actual impact and usability as a template for deals with other countries.

Meanwhile, Reuters reported India had offered to slash its tariff gap with the U.S. to less than 4% from nearly 13% now, in exchange for an exemption from Trump's tariffs, according to sources.

"We're going to see multiple deals with major nations and that's going to allow CEOs to get some more confidence that they can start to plan and possibly invest all that has been on hold," said Hayes.

At 08:42 a.m. ET, Dow E-minis YMcv1 were up 107 points, or 0.26%, S&P 500 E-minis EScv1 were up 19.5 points, or 0.34%, and Nasdaq 100 E-minis NQcv1 were up 84.5 points, or 0.42%.

The S&P 500 and the Nasdaq are set for marginal declines this week.

Several policymakers are expected to deliver remarks, days after the Federal Reserve left interest rates unchanged.

Governor Michael Barr said Trump's trade policies will likely lift inflation, lower growth, and raise unemployment later this year, leaving policymakers with a potentially tricky decision on which problem to fight.

On the earnings front, about 75% of S&P 500 companies had surpassed profit expectations as of Wednesday. But many have withdrawn their annual forecasts citing an uncertain trade environment.

Expedia EXPE.O slipped 9.7% in premarket trading after the online travel platform missed quarterly revenue estimates.

Trade Desk TTD.O shares jumped 14.4% after the ad firm posted first-quarter revenue and profit above Wall Street estimates.

Pinterest PINS.N climbed 10.7% after it forecast current-quarter revenue above estimates, while Coinbase COIN.O reported a drop in first-quarter profit, sending the crypto exchange's shares down marginally.

Lyft LYFT.O jumped 10.7% after the ride-hailing company increased its stock buyback program and beat first-quarter profit estimates.