It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street. Don't miss a minute of the action.

Good morning and welcome to Squawk on the Street. I'm David Faber with Jim Kramer. We are live from the New York Stock Exchange. Carl Kintanilla has the morning off.

We get started with what promises to be an interesting week. Aren't they all?

Take a look at futures, of course, as we open for trading a half hour from now.

Those futures have erased big losses overnight.

And as you can see, the market is looking higher.

Of course, this in part on news out of the G7 summit,

President Trump saying China called U.S. trade reps and asked to get back to the table for talks.

That said, the editor of China's Global Times, who is fairly influential on these things, I believe,

followed saying in a tweet that both sides didn't hold phone talks in recent days,

adding that recent contacts don't have the significance, the President suggested.

President Trump and Treasury Secretary of Manusian were asked about that report,

and here's how they responded.

I don't know what you mean by that.

Low level.

The vice premier is low level.

I don't think so.

I mean, it's in your mind at low level.

What is the position of the gentleman that was floated in the newspaper today? Well, the vice premier, Leo Hoog came out with a very significant statement and we've been communicating through the intermediaries back and forth with it. He's the vice premier of China. Yes, sir. So that's not low level. I understand. I just, there was a statement that the spokesman of the four-minuteman of foreign ministry, for instance, and they weren't aware of the calls happening.

I don't know about it.

They're there in communication at the highest level.

President Trump and his French counterpart, Emmanuel Macron, will hold a joint news conference,

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