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

All eyes will be on London this morning as U.S. trade reps meet with their counterparts from China. Stock futures are modestly higher.

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.