Wall Street futures pointed moderately higher pre-bell Monday as traders viewed technology stocks positively and looked ahead to this week's significant economic releases concerning employment metrics and central bank policies. In the futures market, the S&P 500 saw an increase of 0.5%, the Nasdaq appreciated by 0.7%, while the Dow Jones edged up by 0.1%. Notably, the markets are set to close on Thursday in honor of the late former President Jimmy Carter, indicating a moment of reflection amidst ongoing financial activities. Investors are keenly awaiting the Job Opening and Labor Turnover Survey (JOLTS) for November, which is scheduled for release on Tuesday.
This will be followed by the release of the latest minutes from the Federal Reserve's policy meeting on Wednesday, offering insights into the central bank's strategies. Additionally, the national employment situation bulletin will be published on Friday, shedding light on the state of the job market. In the fixed-income landscape, yields on benchmark 10-year US Treasuries surpassed 4.60% during morning trading hours, reflecting the current interest rate environment and investor sentiment. Across Asia, major exchange indexes traded lower, but Taiwan's broad TWSE index reported a commendable 2.8% increase as Taiwan Semiconductor Manufacturing Company (TSMC) achieved a new all-time high, driven by optimistic forecasts regarding chip production and sales. European stock markets, however, showed signs of cautious optimism, edging upward during midday trading. In other corporate news, Commercial Metals Company (CMC) has announced its intention to report earnings before the opening bell, marking it as one of the key announcements for the week. On the economic calendar, the S&P Global final composite purchasing managers index for December will be published at 9:45 AM ET, followed by the factory orders bulletin for November set for release at 10 AM. Federal Reserve Governor Lisa Cook is slated to deliver remarks at 9:15 AM, contributing further to the day's financial discourse. In premarket trading, Bitcoin was valued at $98,993, while West Texas Intermediate crude oil was stable at $73.94.
Meanwhile, 10-year US Treasuries presented an offer of 4.62%, and spot gold was trading at approximately $2,633 per ounce. In summary, both the US indices and international markets display a mixture of optimism and caution as investor sentiments swing and market trends evolve. Recent trends in tech stocks, along with anticipation of upcoming economic data releases and Fed commentary, are at the forefront of trader focus..