US STOCKS-Wall St set for lower open after strong quarterly rebound

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* Record COVID-19 surge in California, Texas
* Boeing tumbles after Norwegian Air cancels orders
* Uber up on report of potential bid for Postmates
* Futures off: Dow 0.50%, S&P 0.36%, Nasdaq 0.26%

(Adds quote, details; updates prices)
By Pawel Goraj and Devik Jain
June 30 (Reuters) - Wall Street was set to open lower on
Tuesday as coronavirus-related worries and simmering U.S.-China
tensions weighed on sentiment at the end of what is expected to
be the S&P 500's best quarter since 1998.
The benchmark index has rebounded about 18% since April on a
raft of fiscal and monetary stimulus and the easing of
restrictions, but is still down about 5% on the year as a
resurgence in virus cases fuels fears of a new round of
lockdowns.
With California and Texas marking a record spike in cases on
Monday, investors are counting on more stimulus to shore up the
domestic economy. "While traders remain curiously cautious waiting for the
next catalyst, they are also keeping risk on a short leash into
the long weekend," said Stephen Innes, markets strategist at
AxiCorp.
"COVID-19 de-risking playbooks are still in play and
investors are not aggressively buying dips while booking profit
quickly."
Federal Reserve Chair Jerome Powell, who is due to testify
before the U.S. House of Representatives Financial Services
Committee at 12:30 p.m. ET, said in prepared remarks that the
outlook for the world's biggest economy was "extraordinarily
uncertain". Sino-U.S. tensions are heating up again with Washington
beginning to eliminate Hong Kong's special status under U.S. law
in response to China's national security law for the territory.
China's parliament passed the legislation on Tuesday and the
country said it would retaliate. "If the environment between the United States and China
continues to deteriorate, the market is not going to be happy,
but because very little has been known about what's going on
with those new laws, it's not having much of an impact yet,"
said Robert Pavlik, chief investment strategist at SlateStone
Wealth LLC in New York.
Analysts also warned of increased volatility as traders
rebalance their portfolios at the end of the quarter.
Meanwhile, kicking off a data-heavy week for Wall Street,
consumer confidence is expected to have climbed to 91.8 in June
from 86.6 in May. Data on manufacturing activity and employment
are due on Wednesday and Thursday.
At 8:34 a.m. ET, Dow e-minis 1YMcv1 were down 127 points,
or 0.50%, S&P 500 e-minis EScv1 were down 11 points, or 0.36%
and Nasdaq 100 e-minis NQcv1 were down 26 points, or 0.26%.
In premarket moves, Boeing Co BA.N tumbled 3.1% after
Norwegian Air NWC.OL canceled orders for 97 aircraft and said
it would claim compensation. Micron Technology Inc MU.O jumped 5.5% as it forecast
higher-than-expected current-quarter revenue on strong demand
for its chips that power notebooks and data centers.
Uber Technologies Inc UBER.N rose 3.8% after reports said
the ride-hailing services company was in talks to buy
food-delivery app Postmates.