Top U.S. and Chinese officials met in London on Monday in an effort to ease a high-stakes trade dispute that has escalated beyond tariffs to include restrictions on rare earth minerals—critical components in global supply chains.

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

Global stocks climbed on Monday while the dollar retreated as talks began in London between the United States and China, aimed at cooling a trade dispute between the world's two largest economies.