The roll out of COVID-19 vaccination developed by Pfizer and BioNTech for emergency use will begin today and the excitement will be reflected at the open. More than 40 million doses are expected by the end of the month.
Political developments after the UK has agreed to continue Brexit trade talks with the European Union have boosted sentiments.
Monday is a lean day of economic announcements. The industrial production, retail sales, homebuilder confidence, and housing starts may also attract attention this week.
Asian shares finished broadly higher, while European shares are trading mixed.
Initial cues from the U.S. futures Index point to a positive open for Wall Street.
As of 7.30 am ET, the Dow futures were adding 248.00 points, the S&P 500 futures were adding 28.00 points and the Nasdaq 100 futures were progressing 77.50 points.
The U.S major indices finished lower on Friday. The Dow rose 47.11 points or 0.2 percent to 30,046.37 after falling by nearly 180 points in early trading, the Nasdaq dipped 27.94 points or 0.2 percent to 12,377.87, and the S&P 500 edged down 4.64 points or 0.1 percent to 3,663.46.
On the economic front, a six-month Treasury bill auction will be held at 11.30 am ET.
Asian shares ended broadly higher on Monday. Chinese shares ended higher, while Hong Kong shares dropped. The benchmark Shanghai Composite Index added 21.93 points or 0.7 percent to 3,369.12, while Hong Kong's Hang Seng Index fell 71.85 points or 0.3 percent to 26,434.02.
Japanese shares advanced. The benchmark Nikkei 225 Index added 79.92 points or 0.3 percent to close at 26,732.44. The broader Topix rose 8.5 points or 0.5 percent to 1,790.52.
Australian markets rose after two straight days of losses. The benchmark S&P/ASX 200 Index added 17.60 points or 0.3 percent to 6,660.20 and the broader All Ordinaries Index advanced 13.90 points or 0.2 percent to 6,900.30.
European shares are trading mixed. Among the major indexes in the region, the German DAX is gaining 164.85 points or 1.26 percent, the U.K. FTSE 100 Index is progressing 23.37 points or 0.35 percent.
The Swiss Market Index is declining 0.28 points or 0.00 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.16 percent.
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