REUTERS: U.S. stock index futures ticked higher on Monday, as mixed global economic data drove expectations of monetary stimulus from central banks, including the U.S. Federal Reserve.
Stocks were set to extend gains from last week, which ended with Fed Chairman Jerome Powell saying the Fed would"act as appropriate" to sustain economic expansion, a phrase that financial markets have read as signs of an interest rate cut ahead.Bets of a potential rate cut by the Fed gained ground after data showed the U.S. economy added fewer-than-expected jobs in August.
Traders see a 91.2per cent chance of a quarter percentage point cut in Fed's September policy meeting, up from 90per cent on Friday, according to CME's FedWatch.The benchmark S&P 500 gained 1.8per cent last week as a slew of positive global economic news, including China's decision to slash bank reserve requirements, more than offset mixed set of domestic economic data.
At 7:03 a.m. ET, Dow e-minis were up 54 points, or 0.2per cent. S&P 500 e-minis were up 7.25 points, or 0.24per cent and Nasdaq 100 e-minis were up 16.75 points, or 0.21per cent. Among other stocks, drugmaker Amgen Inc fell 4.2per cent and was the biggest loser among S&P 500 stocks in premarket trading.
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