U.S. equities are marginally higher
U.S. equities are marginally higher. The Dow is up 0.1%, while the S&P 500 and NASDAQ are just 0.03% firmer in pre-market futures trading. Wall Street closed regular trading at record highs yesterday following solid gains of 0.7% on the Dow, 0.8% for the S&P 500 and 1.3% for the NASDAQ. Optimism on the U.S.-China trade front underpinned the foray further into record territory. Reports that the U.S. and China held another phone conference on trade Monday has provided a small lift to equities this morning. Yet caution is also evident given lofty stock valuations and the fact that trade details are still fluid. Moreover, while a Phase One deal may be achieved in the near term, the next phases are expected to be much more difficult. Trading is cautious in Europe, with the Euro Stoxx -0.1% weaker, the German DAX slipping -0.1% and the French CAC 40 flat. The U.K.'s FTSE 100 is 0.1% in the green. Measured moves were also evident in Asia, where China's CSI 300 rose 0.4%, Japan's Nikkei 225 closed with a 0.4% increase but Hong Kong's Hang Seng fell 0.3%.