U.S. stock index futures indicated a flat to slightly higher open Monday despite a fresh multi-year low in oil as investors awaited this week's Federal Reserve meeting. The central bank is expected to make its first interest rate rise in more than nine years.
Stock index futures traded mostly higher after earlier giving up gains as brent and U.S. crude oil prices fell sharply on Monday, with crude briefly falling below $35 a barrel for the first time since February 2009.
European stocks traded mixed, while in Asia only the Shanghai composite ended higher, up about 2.5 percent.
"No prizes for guessing the main event of the coming week, as the conclusion of the Fed's FOMC meeting on Wednesday is widely expected to bring lift-off for the fed funds rate, with the likely 25 basis point hike to 0.25-0.50 percent set to be the first increase since 2006," Chris Scicluna, head of economic research at Daiwa Capital Markets, said in a research note on Monday.
"Expectations, however, are for a 'dovish tightening', with the post-meeting statement and updated economic forecasts set to signal the likelihood of a slow pace of further hikes going forward and relatively low interest rates for some time to come," he said.