U.S. Stock Futures Rise to Start the Week

U.S. stock futures rose on the first trading day of the month, after the S&P 500 last week closed out its sixth consecutive month of gains.

Futures on the S&P 500 added 0.6% and futures tied to the Dow Jones Industrial Average strengthened 0.6%. Changes in futures don’t necessarily predict market moves after the opening bell.

In Europe, the Stoxx Europe 600 added 0.8% in morning trade, and it is at its highest level in a year. Gains were led by energy and utilities sectors.

The U.K.’s FTSE 100 climbed 1%. Other stock indexes in Europe also mostly climbed as France’s CAC 40 rose 0.9%, the U.K.’s FTSE 250 gained 1.3% and Germany’s DAX climbed 0.7%.

The euro and the British pound were up 0.1% and 0.2% respectively against the U.S. dollar and the Swiss franc was flat against the U.S. dollar, with 1 franc buying $1.10.

In commodities, international benchmark Brent crude slipped 0.9% to $74.72 a barrel. Gold also fell 0.4% to $1,810.80 a troy ounce.

German 10-year bund yields strengthened to minus 0.449% and the 10-year gilts yield rose to 0.575%. 10-year U.S. Treasury yields were little changed at 1.238% from 1.239% on Friday. Bond yields move inversely to prices.

In Asia, indexes mostly climbed as Hong Kong’s Hang Seng added 1% after falling as much as 0.8% earlier, Japan’s Nikkei 225 index climbed 1.8%, and China’s benchmark Shanghai Composite added 2% after falling as much as 0.8% during the session.