Stock futures inch lower after S&P 500 notches best winning streak in 20 years: Live updates

U.S. stock futures ticked down Sunday night as Wall Street comes off a winning week, with the S&P 500 logging its longest positive streak in two decades.

Futures tied to the S&P 500 fell 0.3%. Dow Jones Industrial Average futures and Nasdaq-100 futures ticked down 0.3% each.

The broad market index advanced nearly 1.5% on Friday, its ninth straight day of gains — its longest winning run since November 2004 — and managed to recover all losses incurred since April 2, when President Donald Trump announced retaliatory tariffs. The tech-heavy Nasdaq Composite gained 1.5% Friday, while the Dow industrials rose nearly 1.4%. 

Increasing hopes for a U.S. trade deal with major trading partners have buoyed sentiment and stocks in recent days. Chinese authorities have said they're evaluating the possibility of starting trade negotiations with the U.S. A report by The Wall Street Journal also suggested that Beijing is open to trade talks. To be sure, no trade deals between the U.S. and other countries have been announced. 

"We do see this run up as being more based on excitement than actual, solid — not just fundamentals, but an actual change," said Ryan Dykmans, chief investment officer at Dunham & Associates Investment Counsel.

On the economic front, Wall Street will look toward the Federal Reserve's two-day policy meeting set to kick off on Tuesday. Fed funds futures trading points to just a 3.2% chance of a rate cut, according to the CME Group's FedWatch tool. Nonetheless, traders will be keeping a close eye on any commentary from the central bank or Fed Chair Jerome Powell on the outlook for the economy amid heightened uncertainty stemming from the trade war. 

On the earnings front, On Semiconductor, Tyson Foods and insurance company Loews are set to report quarterly results Monday before the bell.