07:11 AM EDT, 07/29/2025 (MT Newswires) -- US equity futures were trending higher on Tuesday as investors monitor developments in the latest round of trade talks between the US and China, while looking ahead to the Federal Reserve's two-day monetary policy meeting and a fresh batch of corporate earnings.

The S&P 500 rose 0.3%, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.4% in premarket activity. The S&P 500 and the Nasdaq finished the previous trading session in the green, while the Dow closed lower.

Top economic officials from the US and China reportedly met in Sweden on Monday for negotiations to extend the temporary suspension of tariffs on each other's goods. The meeting was attended by US Treasury Secretary Scott Bessent and China's vice premier, He Lifeng, according to Reuters.

In May, the two countries agreed to temporarily suspend most duties on each other's goods for a period of 90 days. The latest talks come after the US and the European Union reached a trade deal on Sunday.

The Fed's monetary policy committee is scheduled to kick off its meeting on interest rates today, with a decision due Wednesday. Markets are widely expecting the central bank to hold the benchmark lending rate steady, according to the CME FedWatch tool.

Traders also await commentary from Fed Chair Jerome Powell on Wednesday about the economic outlook amid trade and geopolitical uncertainties. US President Donald Trump has repeatedly called for the Fed to cut rates.

Treasury yields were down in premarket action, with the two-year rate retreating 0.6 basis points to 3.92% and the 10-year rate decreasing 1.8 basis points to 4.4%.

Shares of UnitedHealth ( UNH ) fell 3.2% pre-bell after the health insurance giant reported its second-quarter results. Procter & Gamble ( PG ) , Merck ( MRK ) , Boeing ( BA ) , Spotify Technology ( SPOT ) , Royal Caribbean Cruises ( RCL ) , United Parcel Service ( UPS ) , PayPal ( PYPL ) and Johnson Controls International ( JCI ) are some of the other major companies releasing their earnings early Tuesday.

Visa (V) and Starbucks ( SBUX ) post results after the markets close. Technology giants Microsoft ( MSFT ) , Apple ( AAPL ) , Amazon.com ( AMZN ) and Meta Platforms ( META ) are set to release their financial statements later this week.

Cadence Design Systems ( CDNS ) shares jumped 7.7% before the open as the computational software company lifted its full-year outlook on the back of better-than-expected second-quarter results. Welltower ( WELL ) declined 1.4% and Waste Management (WM) nudged up 0.4% following their latest quarterly results.

Tuesday's economic calendar has the international trade in goods, retail inventories and wholesale inventories reports for June at 8:30 am ET, followed by the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for May, at 9 am.

The Conference Board's consumer confidence report for July and the Job Openings and Labor Turnover Survey for June are out at 10 am.

West Texas Intermediate crude oil inclined 0.6% to $67.10 a barrel before the opening bell. Gold moved up 0.4% to $3,323 per troy ounce, while bitcoin gained 0.6% to $118,603.