US equity futures rallied on Monday as traders geared up for the upcoming release of consumer inflation data. With the observance of the Veterans Day holiday, the markets experienced a positive tilt, reflecting investor optimism. The Dow Jones Industrial Average futures climbed by 0.5%, while both S&P 500 and Nasdaq futures matched this increase, also rising by 0.5%.
The Consumer Price Index, a critical indicator of inflation, is set to be unveiled on Wednesday, potentially driving market sentiment further. On the commodities front, oil prices faced a decline. The front-month global benchmark, North Sea Brent crude, fell by 1.9%, settling at $72.50 per barrel, while US West Texas Intermediate crude dropped 2% to $68.94 per barrel.
Notably, no economic data releases were scheduled for Monday, adding to the focus on the forthcoming inflation figures..