Futures Begin December on Upside

U.S. stock index futures rose on Monday, the first trading day of December, as market participants monitored U.S.-China trade talks.

Futures for the Dow Jones Industrials gained 23 points, or 0.1%, Monday to 28,096

Futures for the S&P 500 picked up 2.5 points, or 0.1%, Monday at 3,146.75.

The NASDAQ Composite eked up 0.25 points to 8,417.75.

With those gains, Wall Street was set to build on a strong performance from November. The major averages had their biggest monthly gains since June, rallying to record highs. The S&P 500 climbed 3.4% last month while the Dow advanced 3.7%. The NASDAQ rallied 4.5%.
Monday’s rise came despite Chinese state media reporting Sunday that Beijing wants a cancellation of tariffs for a phase one trade deal.

There is no clear indication of when both countries will be able to sign an agreement and last week saw fresh tension between Washington and Beijing after President Donald Trump signed legislation supporting protesters in Hong Kong.

Trump also said Monday he will restore tariffs on metal imports from Brazil and Argentina. In a tweet, he said: "Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries."

On the data front, there will be new Institute for Supply Management manufacturing and construction spending figures, due out at 10 a.m. ET.

Overseas, in Japan, the Nikkei 225 gained 1% Monday, while in Hong Kong, the Hang Seng Index added 0.4%.

Oil prices improved $1.06 at $56.23 U.S. a barrel.

Gold prices slid seven dollars to $1,465.70 U.S. an ounce.