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

A new round of talks aimed at resolving trade tensions between the US and China take place in London. Top US and Chinese officials are meeting in London in a bid to defuse trade tensions over rare earth minerals and advanced technology after a phone call between Presidents Donald Trump and Xi Jinping last week.

Gold was steady — after losing almost 2% over the previous two sessions — as another round of US-China trade talks offered hope trade tensions between the two largest economies can be eased.