By Jesse Cohen
The outcome of the G20 summit, which took place in Japan over the weekend, continued to reverberate across global financial markets.
Investors were in a cautious mood on Tuesday, one day after U.S. stocks staged a strong rally which saw the S&P 500 hit a fresh all-time high, as they waited on signs of actual progress in trade talks between the United States and China.
The blue-chip Dow futures dipped 31 points, or 0.1%, by 7:50 AM ET (11:50 GMT), the S&P 500 futures slipped 3 points, or 0.1%, while the tech-heavy NASDAQ 100 futures dropped 16 points, or 0.2%.
The world's two largest economies pulled back from the brink of a full-blown trade war following a successful meeting between President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the G20 summit.
Trump said he would postpone further tariffs on Chinese goods and ease restrictions on Chinese tech company Huawei. China, for its part, agreed to make unspecified new purchases of U.S. farm products.
The two sides ultimately agreed to restart trade negotiations, which have been on hold for the last few months.
Elsewhere, in oil markets, Russian President Vladimir Putin said he had agreed with Saudi Crown Prince Mohammed Bin-Salman to extend existing output cuts of 1.2 million barrels per day (bpd) by six to nine months following their meeting at the weekend’s G20 summit.
U.S. crude futures for August were at $58.95 a barrel in early trade, pulling back after reaching their highest in over five weeks at $60.28 on Monday.
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-- Reuters contributed to this report
