U.S. equity futures are slightly higher following last week's advance while investors look toward the G-20 summit in Japan at the end of the week. The S&P 500 futures trade two points, or 0.1%, above fair value with the S&P 500 already up 7.2% this month.
President Trump and President Xi are expected to meet at the summit, but many analysts, according to Reuters, aren't expecting any meaningful trade agreement to be worked out. China's Vice Commerce Minister said on Monday that negotiators from both sides are having discussions and reiterated that both sides should make compromises for a deal.
With stocks at near all-time highs, buoyed by dovish monetary policy expectations, investors aren't showing too much conviction this morning as uncertainty surrounding U.S.-China trade lingers.
In corporate news, shares of Caesars Entertainment (CZR 11.38, +1.39) are up 13.9% after the company confirmed it will merge with Eldorado Resorts (ERI 47.88, -3.34, -6.5%) for $12.75/share in cash and stock, which is valued at approximately $8.6 billion.
U.S. Treasuries have edged higher, pushing yields lower across the curve. The 2-yr yield and the 10-yr yield are down four basis points each to 1.74% and 2.03%, respectively. The U.S. Dollar Index is down 0.2% to 96.06. WTI crude is up 0.9% to $57.95/bbl with the White House expected to announce new sanctions on Iran today.