Wall Street Set for Higher Start
S&P futures vs fair value: +8.60. Nasdaq futures vs fair value: +32.60. Wall Street is on course for a higher start with the S&P 500 futures trading nine points, or 0.3%, above fair value. The S&P 500 has finished higher in six of the last seven weeks.Trade talks between the U.S. and China have resumed today in Beijing in hopes of making progress before the March 1 deadline. Lower-level officials will lead the early talks followed by USTR Robert Lighthizer and Treasury Secretary Steven Mnuchin Thursday and Friday.Separately, there has been some talk of an M&A deal within the health care space. NuVasive (NUVA 57.74, +8.19) has spiked 16.5% in pre-market hours after the Financial Times reported that the company is in talks to be acquired by Smith & Nephew (SNN 38.15, -2.04, -5.1%) for over $3 billion.U.S. Treasuries have edged lower, pushing yields higher across the curve. The 2-yr yield is up two basis points to 2.48%, and the 10-yr yield is up three basis points to 2.66%. The U.S. Dollar Index is up 0.2% to 96.82. WTI crude is down 1.3% to $52.04/bbl.