US equity futures experienced a boost before the trading day commenced on Monday, as market participants anticipated crucial consumer inflation data set to be released later in the week, all while the nation observes the Veterans Day holiday. The Dow Jones Industrial Average futures climbed 0.4%, followed by a 0.3% increase in S&P 500 futures, with Nasdaq futures also up by 0.3%.
This uptick in futures signals a positive outlook heading into the trading session. The Consumer Price Index, a key indicator of inflation, is scheduled to be revealed on Wednesday, providing insights into price movements that may influence market trends. In the realm of commodities, oil prices encountered declines, with the front-month global benchmark, North Sea Brent crude, down 2.3% to $72.17 per barrel, while US West Texas Intermediate crude fell by 2.6% to $68.58 per barrel.
Notably, no significant economic data is slated for release this Monday. Internationally, Japan’s Nikkei closed slightly higher by 0.08%, while Hong Kong’s Hang Seng index dipped by 1.5%. Additionally, China’s Shanghai Composite saw a modest increase of 0.5%. In Europe, the UK's FTSE 100 recorded a rise of 0.8%, with Germany’s DAX index also up by 1.6% during the early afternoon session.
Focusing on equities, Tesla shares ($TSLA) surged 7% ahead of the bell, driven by bullish sentiment following President-elect Donald Trump's victory. Conversely, shares of Sapiens ($SPNS) faced a setback, retreating by 23% after the company disclosed third-quarter revenue that fell short of analyst expectations..