The S&P 500 futures trade nine points, or 0.3%, above fair value with the benchmark index already up 15.2% from its Dec. 24 low. With earnings season winding down, investors will keep an eye for any signs of progress regarding U.S.-China trade talks and border security talks this week.
Lower-level officials kicked off another round of trade talks between the U.S. and China today in Beijing. Higher-level talks will take place Thursday and Friday with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in hopes of making progress before the March 1 deadline.
In Washington, border security talks have reportedly broken down, dampening efforts to prevent another shutdown by the Feb. 15 deadline. President Trump is expected to be interviewed by Fox News tonight at 10:00 p.m. ET.
Separately, NuVasive (NUVA 57.25, +7.70) has spiked 15.5% in pre-market hours after the Financial Times reported that the health care company is in talks to be acquired by Smith & Nephew (SNN 38.10, -2.09, -5.2%) for over $3 billion.
U.S. Treasuries have edged lower, pushing yields higher across the curve. The 2-yr yield and the 10-yr yield are up three basis points each to 2.49% and 2.66%, respectively. The U.S. Dollar Index is up 0.2% to 96.85. WTI crude is down 0.8% to $52.29/bbl.