(Bloomberg) -- Asian stocks may get some relief Monday from recent wild swings after U.S. President Donald Trump reported “big progress” in trade talks with his Chinese counterpart. U.S. futures opened higher.

Trading will be thin with major markets in Japan and China closed and shortened sessions elsewhere on the last day of 2018. Futures on the S&P 500 Index jumped and Australian shares gained at the start, while Hong Kong futures tipped a firmer open after Trump said in a tweet that negotiations were “moving along very well” toward a comprehensive deal and Chinese state media cited Xi Jinping saying he believed both sides wanted “stable progress.”

U.S. stocks halted a two-day rally Friday as thin trading added to already-volatile markets, though the S&P 500 Index held onto its first weekly gain in a month. Treasuries, which rose on Friday, won’t be trading because of the holiday in Japan.

Global stocks are set for their worst year since 2008 and oil is mired in its steepest quarterly slump since 2014. Plenty of event risks loom in the coming year, from the U.K. vote on the Brexit deal to U.S.-China trade talks to the continuing showdown between President Trump and Congress over the budget. The American political landscape is also unsettling investors following departures of senior officials and surfacing tensions at the White House over the Federal Reserve.

Markets are also closed in Korea, the Philippines, Taiwan and Thailand.

For more analysis, see our Markets Live blog.

Here are some events investors may focus on in coming days:

• China releases its official PMIs on Monday, the last day of 2018.
• The U.S. ISM manufacturing PMI is due Friday, Jan. 4.
• Chinese President Xi Jinping delivers his New Year’s address Monday.
• Fed Chairman Jerome Powell is interviewed with predecessors Janet Yellen and Ben Bernanke at the annual meeting of the American Economic Association Friday. Atlanta Fed President Raphael Bostic joins a panel on long-run macroeconomic performance.

And these are the main moves in markets:

Stocks

• Australia’s S&P/ASX 200 Index rose 0.7 percent as of 10:22 a.m. in Sydney.
• Hong Kong’s Hang Seng Index futures climbed 0.3 percent.
• S&P 500 futures rose 0.8 percent. The S&P 500 Index fell 0.1 percent Friday.

Currencies

• The yen dipped 0.1 percent to 110.37 per dollar.
• The offshore yuan was at 6.8814 per dollar.
• The Bloomberg Dollar Spot Index slipped 0.2 percent Friday.
• The euro traded at $1.1440.
• The British pound was at $1.2702.

Bonds

• The yield on 10-year Treasuries dipped five basis points to 2.72 percent Friday.

Commodities

• West Texas Intermediate crude gained 0.4 percent to $45.52 a barrel, extending a 1.6 percent advance Friday.
• Gold dipped 0.1 percent to $1,279.28 an ounce.

©2018 Bloomberg L.P.