×

US futures point to a higher open as investors wait for Trump’s remarks on deregulation

  • Trump is set to speak on deregulation efforts on Monday to an audience of regulatory experts
  • Trump has said that he will decide who is going to replace Janet Yellen as the chair of the U.S. Federal Reserve in the next two to three weeks
  • Manufacturing PMI figures for the month of September out at 9:45 a.m. ET and ISM manufacturing data out at 10 a.m. ET

U.S. stock index futures pointed to a higher open on Monday morning as investors waited to hear from President Donald Trump and monitored new manufacturing data.

Dow Jones industrial average futures rose 55 points, while S&P 500 and Nasdaq futures gained 4.5 points and 14.5 points, respectively.

Trump is set to speak on deregulation efforts on Monday to an audience of regulatory experts in an attempt to showcase what his administration has done to eliminate excessive, job-killing regulations.

Furthermore, Trump has said that he will decide who is going to replace Janet Yellen as the chair of the U.S. Federal Reserve in the next two to three weeks.

On the data front, there will be manufacturing PMI figures for the month of September out at 9:45 a.m. ET and ISM manufacturing data out at 10 a.m. ET. Both numbers will shed a light on the labor market ahead of the employment report due later this week.

In Europe, markets started the first trading day of the month on a higher footing but investors shunned Spanish stocks on growing political concerns in the region of Catalonia.

In oil markets, traders paused for breath on Monday morning after posting gains of 20 percent in the third quarter. Brent crude traded at around $55.77 a barrel on Monday, down 1.8 percent, while U.S. crude was down by 2.1 percent at $50.58 barrel.