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Wall Street set for higher open; data, Yellen speech eyed

Andrew Renneisen | Getty Images

U.S. stock index futures pointed to a higher open on Monday morning as traders eyed an unstoppable post-election rally and looked forward to the Dow breaking through the 20,000 mark.

Dow futures indicated a roughly 23-point gain for the open, after the Dow Jones industrial average closed at 19,843.41 Friday. The index posted its first six-week win streak since November 2015.

On the data front, Monday will see a flash release of Markit services PMI data at 9.45 a.m ET. Fed Chair Janet Yellen also speaks on the job market in the afternoon at a University of Baltimore commencement.

On the earnings front, Lennar reported quarterly profit and revenue that topped analysts' estimates as it sold more homes at higher prices. The second-largest U.S. homebuilder said orders, a key indicator of future revenue for homebuilders, rose 9 percent in the fourth quarter ended Nov. 30.



In Europe, the pan-European Stoxx-600 index was around 0.15 percent lower on Monday morning. In Asia, the Shanghai Composite in China closed 0.15 percent lower, while the Nikkei in Japan closed 0.05 percent lower.

In oil markets, Brent crude traded at around $55.10 a barrel on Monday morning, down 0.2 percent, while U.S. WTI crude was slightly lower around $52.80 a barrel as of 8:29 a.m., ET.

Investor optimism appeared to be increasing that OPEC and other oil producers would be able to tighten crude supply and prop up prices in 2017.

The U.S. dollar index was steady just below 103, while Treasury yields were slightly lower.

—Reuters contributed to this report.