US STOCKS-Wall St set to open higher after Bullard boosts rate cut hopes

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* Nasdaq down 10.2% since its May 3 all-time high
* Powell to open Chicago conference as rate cut talk
intensifies
* Tiffany falls after cutting FY profit outlook
* Futures: Dow 0.76%, S&P 0.75%, Nasdaq 0.89%

(Adds details, updates prices)
By Medha Singh and Amy Caren Daniel
June 4 (Reuters) - Wall Street was set to open higher on
Tuesday, bouncing back from a selloff in technology stocks a day
earlier, after a senior Federal Reserve official pointed the way
to a cut in interest rates in response to slowing economic
growth.
St. Louis Fed President James Bullard said late on Monday
that a rate cut "may be warranted soon", driving Fed funds
futures to price in a 67% chance the central bank would reduce
key short-term borrowing costs at its July policy meeting.
That would provide a fillip to Wall Street, whose three main
indexes have shed at least 6% in May following a sudden flare up
in trade tensions and Washington's threat to slap tariffs on
Mexican goods.
"There is a positive view that the rates are going to be low
for longer periods or the Fed may even cut rates," said Scott
Brown, chief economist at Raymond James in St. Petersburg,
Florida.
"We've seen that when Fed is more likely to cut short-term
interest rates the markets rally in relief."
Investors will be paying close attention to Fed Chairman
Jerome Powell's speech before a monetary policy conference in
Chicago later in the day for his economic outlook. Futures nudged higher after China's commerce ministry said
the differences and frictions between China and the United
States should be resolved through dialogue and negotiations.
Adding to the positive mood, Mexican Foreign Minister
Marcelo Ebrard said he expects to find common ground with U.S.
officials in immigration and tariffs talks. "There are hopes that tariffs on Mexico will not go into
effect next week and the senate may intervene to prevent that
from happening," said Brown.
Shares of tariff-sensitive Boeing Co BA.N and Caterpillar
Inc CAT.N rose more than 1% each, while chipmakers were also
higher in trading before the bell.
At 8:52 a.m. ET, Dow e-minis 1YMc1 were up 188 points, or
0.76%. S&P 500 e-minis ESc1 were up 20.5 points, or 0.75% and
Nasdaq 100 e-minis NQc1 were up 62.5 points, or 0.89%.
High-profile technology companies - Amazon.com AMZN.O ,
Apple Inc AAPL.O , Facebook Inc FB.O and Google-parent
Alphabet Inc GOOGL.O - were up between 0.4% and 1.1% after
tumbling a day earlier on fears of being the targets of U.S.
government antitrust regulators.
The Nasdaq has lost 10.2% since its May 3 all-time high,
confirming a correction territory, while the S&P 500 is 7.6%
away from its record high hit on May 1.
Among other movers, Tiffany & Co TIF.N fell 2.0% after
luxury jeweler cut its full-year profit outlook and blamed lower
spending by tourists worldwide for missing quarterly same-store
sales estimates. Data at 10:00 a.m. ET is expected to show U.S. factory
orders fell 0.9% in May, compared with a 1.9% rise a month
earlier.