Global stocks climbed on Monday while the dollar retreated as talks began in London between the United States and China, aimed at cooling a trade dispute between the world's two largest economies. The dispute has expanded beyond tit-for-tat tariffs to restrictions over rare earths,

Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements.

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