S&P 500 traded near the benchmark's record highs as talks provide a glimmer of hope for a US-China trade deal.

China trade talks in London and downward revisions to U.S. payroll estimates—suggesting the Fed may consider cutting interest rates later this year, a move typically supportive for stocks. S&P 500 futures traded up marginally this morning after most Asian markets rose and Europe stayed flat in early trading.

Asian shares opened higher, buoyed by expectations about the US-China trade talks as officials struck a positive tone after the first day of negotiations. A regional stock gauge rose 0.2% as talks between the US and Chinese officials were set to resume Tuesday.