S&P 500 futures 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.

U.S. stock index futures were subdued on Monday as investors looked ahead to talks between the United States and China aimed at mending a trade rift that has rattled financial markets for much of the year.