Before the bell: What you need to know before the US market open
Stock markets lost ground over the last week but look set to open stronger today.
S&P futures are up by 0.13 per cent, while the Nasdaq is up by 0.25 per cent. Dow futures are trading up by 0.21 per cent ahead of the open.
Last week the Dow slipped 0.2 per cent, the S&P declined by 0.4 per cent and the Nasdaq dropped by 0.8 per cent.
A stronger US open comes on the back of many European markets rising around one per cent in early Monday trading, with Asian markets ended the day with mixed results.
Overnight it emerged the Bank of Japan is split over its policy on negative interest rates. Minutes released from the March meeting show that policymakers thought negative interest rates "had not necessarily exerted its intended effects."
Read more: Has Abenomics failed?
Some speculated the strength in the yen and in Japanese stocks, a common safe-haven for investors, was due to risk global risk aversion. The Bank of Japan's governor Haruhiko Kuroda will make a closely watched speech on Friday.
Meanwhile, Saudi Arabia's oil industry has undergone a raft of changes over the weekend.
Long serving Saudi oil minister Ali al-Naimi has been replaced by the chairman of Saudi Arabia's state-owned Aramco, Khaled al-Falih.
Falih will become the head of the newly created energy, industry, and natural resources ministry as part of the kingdom's "2030 vision" to diversify away from its dependence on oil.
There have also been reports that London, New York, and Hong Kong could be inline for host shares of the Saudi owned oil company Aramco when it lists in the next couple of years.
In stocks:
Energy stocks will be in focus as wildfires tear through Canada. The destruction has weighed on the country's oil production, sending oil prices higher.
Read more: Canadian oil production threatened by wildfires sweeping the country
In pre-market trading Occidental Petroleum, Southern Co and Pioneer Natural Resources all lost ground.
Berkshire Hathaway, lead by the oracle of Omaha Warren Buffett, has posted revenue up 7.7 per cent to $52.4bn, missing expectations of $52.88bn.
US earnings today:
We're seeing a slowdown in the number of company reports as we come to the end of earnings season, though there's still plenty to keep investors busy.
Auction house Sotheby's, Teva Pharmaceuticals, and Tyson Foods have reported numbers this morning, while global car hire company Hertz, and media giant Liberty Global will post their latest figures after the close.
Economic news:
There's little in the way of US economic data out today, keep an eye out for the latest job openings and wholesale inventories tomorrow however.