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The stock market began the week on a slightly higher note, though the Monday session went by without any news from the U.S.-China trade talks in London. A marathon meeting concluded with an agreement to continue talking today, so the market will once again be on the lookout for potential headlines from that event.

The overall tone remains mildly positive this morning with futures on the S&P 500 trading ten points above fair value after a night that saw a mixed showing from equities in Asia and Europe.

Once again, the market has no noteworthy economic releases to look forward to, since today's lone report—NFIB Small Business Optimism Index for May—was released at 6:00 ET. That report showed an uptick to 98.8 from 95.8 in April after four consecutive monthly decreases.

In earnings news, J.M. Smucker (SJM 103.00, -8.85, -7.9%) is on course for a sharply lower start after beating quarterly EPS expectations on below-consensus revenue and issuing below-consensus EPS guidance for the year coupled with in-line revenue guidance.

Treasuries started the day on solid footing with longer tenors leading the early strength after lagging yesterday. This is taking place alongside gains in other sovereign debt, with some support from solidifying expectations for a September rate cut from the Bank of England after the release of soft employment figures in the UK.

The U.S. Treasury will sell $58 bln in 3-yr notes today, followed by sales of 10-yr notes and 30-yr bonds over the next couple days.