S&P 500, Dow, Nasdaq futures drift with US and China set to reboot trade talks

US stock futures drifted higher on Monday as investors watched renewed US-China trade talks for signs either side is willing to dial down tensions and reach a tariff deal.

S&P 500 futures (ES=F) inched up 0.1%, after the broad benchmark edged above 6,000 to notch its highest close since February. Dow Jones Industrial Average futures (YM=F) also floated up 0.1%, while contracts on the tech-heavy Nasdaq 100 (NQ=F) were broadly flat.

Stocks ended last week on a high note, appearing to shake off the volatility that has plagued markets following President Trump’s early-April tariff hikes. Encouraging jobs data helped ease fears of a recession fueled by his policy overhaul.

Hopes are now for a breakthrough in the high-level US-China trade talks in London on Monday, after a phone call between Trump and Chinese President Xi last week.

Read more: The latest on Trump’s tariffs

The stakes are high amid warnings that tariff barriers will harm economies worldwide — the US in particular. Investors are looking for a revival of the momentum shown in the Geneva pact in mid-May. Relations have soured since then, with the US and China accusing each other of not keeping to the trade truce and ratcheting up pressures in other areas.

The data highlight this week is May US consumer inflation print due on Friday, with the wholesale inflation report leading the way on Thursday.

On the corporate front, Apple (AAPL) kicks off its big annual WWDC developers’ conference on Monday. Wall Street is watching for more insight into the company’s AI plans, though not on the lines of last year’s splashy announcements.

Meanwhile, investors are keeping a wary eye on escalating tensions in Los Angeles after Trump sent in the National Guard to deal with anti-deportation protests.

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Warner Bros. Discovery announces it will split into two companies, shares jump

Shares of Warner Bros. Discovery (WBD) rose more than 6% in premarket trading on Monday after the media company said it would split into two companies.

Warner Bros. will separate its studios and streaming business, which includes HBO Max, and its cable television networks, including CNN. The split is expected to be completed by mid-2026.

Reuters reports:

Read more here.

Good morning. Here’s what’s happening today.

Trending tickers: Robinhood, Tesla and Strategy

Here are some top stocks trending on Yahoo Finance in premarket trading:

Robinhood (HOOD) stock fell 5% before the bell on Monday after the S&P Dow Jones Indices made no changes to the S&P 500 in its quarterly rebalancing.

Tesla (TSLA) stock also dropped on Monday in premarket trading after CEO Elon Musk criticized President Trump’s tax bill.

Strategy (MSTR) stock rose on Monday by 2%. A SEC filing revealed the company had purchased 705 bitcoin during the period of May 26 to June 1 at an aggregate purchase price of $75.1M.

Goldman and MS join the Wall Street crowd upbeat on US stocks

Wall Street strategists are growing optimistic about US stocks, with forecasters at Morgan Stanley (MS) and Goldman Sachs Group (GS) the latest to suggest resilient economic growth would limit any pullback over the summer.

Bloomberg reports:

Read more here.