Investing.com - U.S. futures pointed to a flat opening bell on Monday, at the start of a week that will be dominated by the resumption of trade talks between China and the U.S. and by the Federal Reserve's policy meeting.
Trade negotiations restart in Shanghai Tuesday for the first time since talks broke down in May, with little expectation of any major breakthroughs. The focus is on whether China will make any purchases of U.S. farm goods or if the U.S. will ease its restrictions on American companies buying from and selling to China’s Huawei Technologies.
Nasdaq 100 futures fell 5 points or 0.1% by 6:40 AM ET (10:40 GMT), while Dow futures were flat at 27,146 points and S&P 500 futures were down 1 point or 0.1%.
Mylan (NASDAQ:MYL) was among the top gainers in premarket trading, jumping 24% after reports that it's in talks to buy Pfizer's (NYSE:PFE) off-patent drug business, further strengthening its position in the generic drugs sector. Pfizer was up 0.6%.
Earnings season continues this week, with Booz Allen Hamilton (NYSE:BAH) and Cooper Tire & Rubber Company (NYSE:CTB) reporting before the bell on Monday. Beyond Meat (NASDAQ:BYND), AK Steel (NYSE:AKS) and Arch Capital (NASDAQ:ACGL) will release their results after the market close.
Tesla (NASDAQ:TSLA) inched up 0.8% after CEO Elon Musk said the company plans to add several new features to its next update on its Autopilot feature, including movie streaming services from Netflix (NASDAQ:NFLX).
Elsewhere, Amazon (NASDAQ:AMZN) dipped 0.1% after Business Standard reported it is in the early stages to acquire Uber Eats' business in India. Uber (NYSE:UBER) shares rose 0.5% on the prospect of monetizing the asset, which was reportedly losing over $15 million a week in late 2018.
In other news, the Federal Reserve begins its two-day policy meeting on Tuesday, with the central bank largely expected to cut rates for the first time in a decade.
In commodities, crude oil was flat at $56.19 a barrel. Gold futures was flat at $1,419.45 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, hit a two-month high overnight before consolidating around 97.803, up 0.1% from late Friday.