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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) also rose 0.1%.
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 President 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.
LIVE 6 updates
What to expect from Apple's WWDC event as Wall Street looks for AI gains
Apple's annual Worldwide Developers Conference (WWDC) kicks off in Cupertino, Calif., today.
While investors may get another taste of artificial intelligence features, including AI-powered Siri, Apple isn't expected to deliver any big announcements.
The company will likely showcase new features and designs for iOS, iPadOS, macOS, and watchOS. There's always a chance it will debut a new piece of hardware too.
Apple (AAPL) stock rose 0.5% in premarket trading ahead of the event.
Read our tech editor's preview of everything to expect from Apple WWDC 2025.
Robinhood shares fall as S&P 500 inclusion hopes dashed
Robinhood (HOOD) stock slipped 4% after it didn't make it into the benchmark S&P 500 index as some speculated it might.
S&P Dow Jones Indices did not make any changes to S&P 500 membership as part of its quarterly rebalancing.
Reuters reports:
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:
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
