US STOCKS-S&P 500 set for muted open after hitting near 3-month high

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Boeing up after resuming 737 MAX production
* Twitter, Facebook drop amid threat of executive order
* Futures: Dow rises 0.6%, S&P up 0.1%, Nasdaq off 0.9%

(Adds quote, details; updates prices)
By Medha Singh
May 28 (Reuters) - The S&P 500 looked set for a subdued open
on Thursday as investors paused for breath after three days of
gains and weighed signs of an economic recovery against
underlying tensions between the United States and China.
Boeing Co BA.N climbed 4.7%, the most among the 30
blue-chip Dow components in before the bell trading, as the
planemaker said it had resumed production of its 737 MAX
passenger jet at its Washington plant, although at a "low rate".
Its top supplier, Spirit AeroSystems SPR.N , jumped 6.3%.
The benchmark S&P 500 .SPX managed to close above the key
3,000 mark at a near three-month high on Wednesday, as growing
evidence of a pick up in business activity across the globe and
massive amounts of stimulus drove hopes of an economic recovery.
However, analysts have warned that worsening ties between
Washington and Beijing over the handling of the coronavirus
outbreak and the new national security law in Hong Kong pose a
major threat to the stock market's strong recovery from the
crash earlier this year.
The Trump administration is crafting a range of options,
including targeted sanctions, new tariffs and further
restrictions on Chinese companies, according to U.S. officials
and people familiar with the discussions. President Donald Trump has promised action over Hong Kong by
the end of the week.
"What is happening with Hong Kong feels like the first frost
in a new Cold War," said Jasper Lawler, head of research at
London Capital Group.
Chipmakers, which have a large exposure to China, were under
pressure, with Intel Corp INTC.O and Advanced Micro Devices
Inc AMD.O down about 1% each in premarket trade.
Futures were largely unchanged after the Labor Department's
data showed more than 2 million Americans sought unemployment
benefits for the 10th straight week. A separate report showed GDP contracted at a
bigger-than-expected 5.0% annualized rate in the first quarter,
the deepest drop in output since the 2007-09 Great Recession.
At 8:40 a.m. ET, Dow e-minis 1YMcv1 were up 162 points, or
0.63% and S&P 500 e-minis EScv1 were up 3.5 points, or 0.12%.
Nasdaq 100 e-minis NQcv1 were down 85.75 points, or 0.91%.
Memory chipmaker Micron Technology Inc MU.O dropped 1.9%
despite raising its revenue forecast for the third quarter.
Twitter TWTR.N and Facebook FB.O slipped 4.7% and 2.3%,
respectively as Trump is expected to sign an executive order on
social media companies on Thursday, after he threatened to shut
down websites he accused of stifling conservative voices.