US pre-open: Futures in the green following Dow's worst week since June
Updated : 12:23
Wall Street futures were in the green ahead of the bell on Monday as the blue-chip Dow Jones and the S&P 500 looked set to bounce back from five consecutive days of losses.
As of 1220 BST, Dow Jones futures were up 0.59%, while S&P 500 and Nasdaq-100 futures were 0.57% and 0.53% firmer, respectively.
The Dow Jones closed 271.66 points lower on Friday as all three major indices wrapped up the week in the red but managed to stay relatively near their all-time highs.
In focus ahead of the bell on Monday, an apparent decline in new Covid-19 cases was giving investors a reason to feel positive prior to the open, with the US' seven-day average through 10 September dropping to 136,000 from 157,000 a week earlier.
As a result, reopening plays were trading higher prior to the open, with Delta Air Lines, United Airlines, Carnival and MGM all in the green.
Market participants will also be holding out for the release of this month's consumer price index on Tuesday, with the key inflation reading for the month of August expected to come in at 5.3% after July's 13-year high of 5.4%.
IG's Joshua Mahoney said: "Today sees a relatively slow start to the week, with precious few economic releases of note. However, with key US and UK inflation data released over the coming days, the monetary policy outlook comes back into play once again. Soaring commodity prices show little sign of letting up, with aluminium the latest outperformer having hit the highest level since 2008.
"Overnight PPI data out of Japan hammers home the same message seen worldwide that producers are struggling under price pressures that show little sign of letting up. Thus while some central bankers will have you believe they are happy to hold back on tightening for now, we are seeing very clear signs that this spike in inflation is far from fleeting."
On the macro front, the White House's monthly budget statement for August will be published at 1900 BST.
No major corporate earnings were slated for release on Monday.