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

U.S. stocks are drifting as the world’s two largest economies begin talks on trade that could help avoid a recession. The S&P 500 was virtually unchanged Monday.

U.S. stock futures are little changed with inflation data due and possibly, some clarity on where the U.S. and China stand on trade issues.