Oil Price Decline Lifts US Equity Futures Pre-Bell

MT Newswires Live09-21 19:58

US equity futures were edging higher pre-bell Monday as oil prices declined to start the week.

Dow Jones Industrial Average futures were 0.9% higher, S&P 500 futures were up 0.7%, and Nasdaq futures were 1% higher.

The US, Denmark, and Greenland have entered into an agreement for the US to develop a "large" military presence in Greenland, President Donald Trump said in a post on Truth Social. The agreement gives the US "permanent control" over security and other needs in Greenland and prevents US adversaries from establishing military bases, maintaining a military presence, or making sensitive investments without US approval, Trump said.

Chinese President Xi Jinping will pay a state visit to the US from Sept. 23 to 25 and meet with Trump to "have an in-depth exchange of views on major issues concerning China-US relations and world peace and development," China's Foreign Ministry said.

Scheduled to report financial results this week are AutoZone (AZO), Costco Wholesale (COST), and Cintas (CTAS).

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.8% at $100.99 per barrel and US West Texas Intermediate crude 2.8% lower at $93.38 per barrel.

The Chicago Fed national activity index for August, expected at 8:30 am ET, is seen coming in at negative 0.04, compared with negative 0.08 previously, according to estimates compiled by Bloomberg.

Federal Reserve Chicago President Austan Goolsbee is slated to speak on Monday.

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