The S&P 500 futures trade seven points, or 0.2%, above fair value, as investors remain optimistic about trade negotiations with China. President Trump is expected to meet with China's Vice Premier Liu He today at 2:30 p.m. ET.
The market will continue to look for a memorandum of understanding between the two nations, a date and place of a potential summit between President Trump and China's President Xi, and an announcement if the March 1 deadline will be delayed.
There will also be several Federal Reserve officials speaking today.
New York Fed President (permanent voter) John Williams will speak at 10:15 a.m. ET about the prospects for inflation in a high-pressure economy. Vice Chair (permanent voter) Richard Clarida and St. Louis Fed President (FOMC voter) James Bullard will speak about the Fed's balance sheet at 1:30 p.m. ET.
In earnings news, Kraft Heinz (KHC 36.37, -11.81) has plunged 24.5% in pre-market trading after the company missed earnings estimates, cut its quarterly dividend to $0.40/share from $0.625/share, and disclosed an SEC subpoena surrounding its accounting practices.
On the other hand, Wayfair (W 137.41, +20.13, +17.2%) and Trade Desk (TTD 174.50, +24.01, +16.0%) have soared in pre-market trading following upbeat earnings and/or guidance.
U.S. Treasuries have edged higher this morning, pushing yields lower across the curve. The 2-yr yield and the 10-yr yield are down three basis points each to 2.50% and 2.66%, respectively. The U.S. Dollar Index is flat at 96.61. WTI crude is up 1.3% to $57.68/bbl.