Stock-index futures pointed to a slightly higher start for Wall Street Monday as investors look for the European Central Bank and the Federal Reserve this month to step up with additional stimulus this month.
Futures on the Dow Jones Industrial Average YMU19, +0.21% rose 47 points, or 0.2%, to 26,855, while S&P 500 futures ESU19, +0.26% gained 6.7 points, or 0.3%, to 2,987.50. Nasdaq-100 futures NQU19, +0.20% rose 15.25 points, or 0.2%, to 7,873.
Stocks rose Friday, capping a positive week for major indexes as trade-war jitters moved to the back burner after Beijing and Washington affirmed plans for renewed talks next month. The Dow DJIA, +0.26% saw a 1.5% weekly rise, while the S&P 500 SPX, +0.09% advanced 1.8%. The Nasdaq Composite COMP, -0.17% posted a 1.8% weekly advance.
Last week’s gains left the S&P 500 1.6% below its all-time closing high of 3,025.86 set on July 26, while the Dow ended Friday off 2.1% from its record close of 27,359.16 set on July 15. The Nasdaq ended last week off 2.7% from its all-time closing high of 8,330.21 set on July 26.
“In the broader market, risk appetite has returned on Monday, with Asian stock markets being a sea of green, despite some disappointing trade data out of China over the weekend,” wrote market analysts at XM, in a note. “Even though exports for August were weaker than expected, Chinese authorities were quick to calm markets by hinting at more monetary stimulus to cushion the tariff-hit economy.”
Data showed China’s global exports fell 3% to $214.8 billion in August, while imports rose 1.7% to $180 billion.
German exports unexpectedly rose in July, offering a rare bright spot following a run of downbeat economic data out of Europe’s largest economy.
Meanwhile, the European Central Bank is widely expected to deliver a further rate cut, pushing its deposit rate further into negative territory, when policy makers meet Thursday. The ECB may also move to restart a bond-buying program it ended in December as it responds to a slowing economy and stubbornly below-target inflation.
Federal Reserve policy makers meet next week, with recent data, including last Friday’s weaker-than-expected jobs report, seen underlining expectations it will move to cut its key lending rate.
Read: Central bankers now know: Hang together or hang separately
On the economic calendar, data on July consumer credit is due at 3 p.m. Eastern. Later this week, investors will get a look at the August producer price index on Wednesday, followed by the consumer price index on Thursday and August retail sales data on Friday.
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