The index futures are pointing to a moderately higher opening on Monday, as traders strive to shake off the negativity engendered by worries concerning the economy, inflation and interest rates.

The major U.S. averages closed the week ended Dec. 16 notably lower, amid Fed’s hawkish tone that came through the dot plots and a few weak economic data set in motion a steep sell-off since Wednesday. All three indices closed at their lowest since early November, tempering hopes of a year-end Santa Claus rally.

Here’s a peek into index futures trading:

In premarket trading on Monday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.49% to $385.14 and the Invesco QQQ Trust (NASDAQ:QQQ) gained 0.48% to $274.90, according to Benzinga Pro data.

On the economic front, the National Association of Home Builders will release its housing market index for December at 10 a.m. EST. Economists, on average, expect the index to edge up to 34 from 33 in November.

The Treasury will auction 3-month and 6-month bills at 11:30 a.m. EST.

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Stocks In Focus:

Commodities, Other Global Equity Markets:

Crude oil futures resumed their upward trend after slipping on Friday. A barrel of WTI-grade crude oil rose over 1% to $75.28.

The yield on the benchmark 10-year U.S. Treasury note rose by 0.042 to 3.524%.

The Asia-Pacific markets closed Monday’s session lower as worries concerning the global economy weighed on sentiment. The Chinese market led the region’s decline, although the Singaporean and Indian markets bucked the downtrend. The COVID-19 overhang continues to haunt Chinese stocks despite the government’s many stimulatory measures.

European stocks were recovering from three straight sessions of sell-off, with some positive economic data from the region supporting sentiment.

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