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.

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

Asian shares are mostly higher as investors keep an eye on China-U.S. trade talks that might help stave off a recession.