U.S. equity futures experienced an uptick on Monday as traders anticipated the forthcoming consumer inflation data, set to be released later this week, amidst the observance of the Veterans Day holiday. The Dow Jones Industrial Average futures increased by 0.5%, while S&P 500 futures and Nasdaq futures also saw a gain of 0.5%.
Market participants are particularly focused on the Consumer Price Index, which is slated for publication on Wednesday. Meanwhile, oil prices declined, with the front-month global benchmark North Sea Brent crude falling by 1.9% to $72.50 per barrel. Additionally, U.S. West Texas Intermediate crude saw a 2% drop, settling at $68.94 per barrel.
It’s noteworthy that this Monday lacks any significant economic data releases, leaving traders to gear up for the upcoming inflation report and its potential market implications..