US STOCKS-Wall St set for lower open on Iran tensions, trade worries

* AbbVie slides after $63 bln deal to buy Allergan
* Lennar rises after qtrly profit beat
* Fed Chair Jerome Powell to speak at 1:00 p.m. ET
* Futures down: Dow 0.06%, S&P 0.12%, Nasdaq 0.15%

(Changes comment, adds details; updates prices)
By Medha Singh
June 25 (Reuters) - Wall Street's main indexes were set to
open slightly lower on Tuesday, as investors worried about the
fallout of new sanctions on Iran and signs that talks with China
may generate little progress on trade.
After three weeks of steady gains on the prospect of more
monetary stimulus for the economy and markets, all eyes will be
on speeches by Federal Reserve policymakers that are widely
expected to point to a cut in interest rates next month.
A senior U.S. official said President Donald Trump is
"comfortable with any outcome" from the talks with his Chinese
counterpart, dampening any hopes that the United States and
China would be able to strike a trade deal at the G20 summit
later this week. "It is unlikely that any resolution of the trade situation
will take place until after the next Fed meeting late next
month," said Robert Johnson, chief executive officer at Economic
Index Associates in New York.
A trade resolution will allow the Fed to forestall any
interest rate cut, Johnson said. "I believe what Trump wants is
both a Fed rate cut and to declare victory in the trade dispute
with China."
Wall Street's main indexes have risen at least 7% this
month, with the S&P 500 .SPX hitting a record high last week.
Traders fully expect a rate cut from the U.S. central bank
in July and see a 40% possibility of a 50 basis point move, CME
Group's FedWatch program showed.
In a dramatic and unprecedented move, Trump on Monday
imposed new sanctions on Iran's supreme leader and foreign
minister, a decision Tehran said closed the path to diplomacy
between the countries. At 8:30 a.m. ET, Dow e-minis 1YMcv1 were down 17 points,
or 0.06%. S&P 500 e-minis EScv1 were down 3.5 points, or 0.12%
and Nasdaq 100 e-minis NQcv1 were down 12 points, or 0.15%.
Among stocks, AbbVie Inc ABBV.N slipped 8% after the
drugmaker said it would buy Botox-maker Allergan Plc AGN.N in
a cash-and-stock deal for about $63 billion. Shares of Allergan
surged 31.9%. Lennar Corp LEN.N rose 3.6% after the No. 2 U.S.
homebuilder reported a higher-than-expected quarterly profit.
On the economic front, the Commerce Department is expected
to announce that new home sales rose to 680,000 units in May
from 673,000 a month earlier.
Separately, the Conference Board is expected to report
consumer confidence fell to a reading of 131.2 in June from
134.1 in May. Both sets of data are due at 10:00 a.m. ET.