Russian Energy Minister Alexander Novak (C) speaks next to Mohammed bin Saleh al-Sada (R), President of the Organisation of Petroleum Exporting Countries (OPEC) during a press conference at the 23rd World Energy Congress on October 12, 2016 in Istanbul.
Ozan Kose | AFP | Getty Images
A daily morning look at the financial stories you need to know to start the day.
STOCKS
-Stock futures are flat after the Dow and S&P 500 closed at a new record on Friday. Economic data and earnings news are light today, putting additional focus on the oil trade and Trump transition news. Gold is at a 10-month low of $1,157 per ounce. Bond prices are lower again. The yield on the 10-year Treasury is up to 2.5 percent.
-The Fed is still expected to raise interest rates when the Federal Open Markets Committee meets this Wednesday.
OIL/ENERGY
-U.S. crude prices are up more than 4 percent to the $53 a barrel level after OPEC and some non-OPEC countries made a deal over the weekend to cut oil production.