S&P 500 and Nasdaq futures rose 0.4% and 0.6%, respectively, in Monday premarket activity as trade optimism increased after Canada scrapped a digital services tax in an effort to restart trade talks with the US.

The S&P 500 and Nasdaq touched record highs in trading pre-bell Monday, according to multiple news reports.

US President Donald Trump and Canadian Prime Minister Mark Carney will resume negotiations to reach a trade agreement by July 21, the Department of Finance Canada said.

Investors are also looking toward the US tax and spending bill, where senators are scheduled to vote on a potentially long list of amendments to the bill starting at 9 am ET, Reuters reported.