US STOCKS-Futures edge higher on hopes of economic recovery

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* Consumer price index falls 0.8% in April
* Simon Property, Macerich jump after results
* BlackRock drops as top holder dumps stake
* Futures up: Dow 0.43%, S&P 0.35%, Nasdaq 0.37%

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By Medha Singh and Sruthi Shankar
May 12 (Reuters) - U.S. stock index futures ticked higher on
Tuesday on hopes that the easing of virus-led business shutdowns
would help jump-start a battered global economy, with investors
also weighing the risks of reopening too soon.
Adding to the upbeat mood, China announced a new list of 79
U.S. products including ores of rare earth metals, gold ores and
silver ores for waivers from retaliatory tariffs. Trade tensions between the two countries resurfaced
recently, but optimism about a recovery in business activity and
massive stimulus measures have helped the S&P 500 .SPX climb
about 34% from the lows of a pandemic-driven selloff in March.
"We're in a very choppy period where we don't really
collapse or don't go much higher," said Peter Cardillo, chief
market economist at Spartan Capital Securities in New York.
"Things are going to begin to normalize. But what the market
is looking out for is what does normalization mean and what is
its impact on corporations and the economy."
Wuhan reported its first cluster of coronavirus infections
since a lockdown on the city, stoking concerns of a wider
resurgence. Later on Tuesday, top U.S. health authorities will testify
to a Senate committee looking into plans for lifting the
nation's lockdown.
Wall Street's fear gauge .VIX slipped for the fourth day
running, hitting a ten-week low, even as data showed U.S.
consumer prices in April dropped by the most since the Great
Recession, weighed down by a plunge in demand for gasoline and
services including airline travel. The focus for this week is the retail report for April due
on Friday.
At 8:43 a.m. ET, Dow e-minis 1YMcv1 were up 104 points, or
0.43%. S&P 500 e-minis EScv1 were up 10.25 points, or 0.35%
and Nasdaq 100 e-minis NQcv1 were up 34.25 points, or 0.37%.
Among stocks, BlackRock Inc BLK.N dropped 3.2% in
premarket trade as its top shareholder PNC Financial Services
Group Inc PNC.N planned to sell its entire 22% stake in the
world's largest asset manager. Simon Property Group Inc SPG.N jumped 11.3% as the biggest
U.S. mall operator said it would have about half of its more
than 200 retail properties in the country open within the next
week. Smaller rival Macerich Co MAC.N climbed 8.3% as it
expected to open a vast majority of its properties by mid-June.