GO
Loading...

US futures head into Christmas holiday on a high

U.S. stock-index futures pointed to further Wall Street gains on Monday, following last week's bounce after the Federal Reserve's announcement and a strong third-quarter growth number.

Stock futures held their gains after the data had personal income up 0.2 percent and spending rising 0.5 percentin November.

(Read more: Taper seen as positive for economy, bad omen for bonds)

"The core annual rate is expected to remain well below the Fed's comfort zone rising only modestly to 1.2 percent in November. Further downward inflation surprises in the year ahead may delay quantitative easing tapering weighing upon the U.S. dollar, especially if the Fed proves more backward looking," said Bank of Tokyo-Mitsubishi's Lee Hardman in a research note.

Other data due Monday include the University of Michigan's consumer sentiment index for December.

(Read more: Do US equities have room to rise?)

Monday will be a light day for earnings, with Piedmont Natural Gas Company one of the few companies reporting before the start of trade.

Frankfurt-listed Apple shares traded around 2.7 percent higher on confirmation of a long-awaited deal with China Mobile to launch the iPhone across China next month. Apple suppliers ARM Holdings and Dialog also received a boost.

(Read more: Biggest loser of Apple-China Mobile deal: Samsung)

Both Asian and European equities were higher on Monday — albeit in thin trade ahead of the Christmas holiday — boosted by last week's better-than-expected U.S. gross domestic product (GDP) figure. Official data on Friday showed the U.S. economy grew by 4.1 percent on an annualized basis between July and September, up on a previous estimate of 3.6 percent. It came after the Fed announced plans to scale back its stimulus program on Wednesday.

—By CNBC's Katy Barnato

Contact US

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More