Update: Oil Price Decline Lifts US Equity Futures Pre-Bell
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging higher pre-bell Monday as oil prices declined to start the week.Dow Jones Industrial Average futures were 0.8% higher, S&P 500 futures were up 0.7%, and Nasdaq futures were 1.1% higher.The US, Denmark, and Greenland have entered into an agreement for the US to develop a "large" military presence in Greenland, President Donald Trump said in a post on Truth Social. The agreement gives the US "permanent control" over security and other needs in Greenland and prevents US adversaries from establishing military bases, maintaining a military presence, or making sensitive investments without US approval, Trump said.Chinese President Xi Jinping will pay a state visit to the US from Sept. 23 to 25 and meet with Trump to "have an in-depth exchange of views on major issues concerning China-US relations and world peace and development," China's Foreign Ministry said.Scheduled to report financial results this week are AutoZone (AZO), Costco Wholesale (COST), and Cintas (CTAS).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.7% at $101.03 per barrel and US West Texas Intermediate crude 2.8% lower at $93.38 per barrel.The Chicago Fed national activity index for August came in at negative 0.04, compared with 0.08 previously and meeting expectations in a survey compiled by Bloomberg.Federal Reserve Chicago President Austan Goolsbee is slated to speak on Monday.In other world markets, Hong Kong's Hang Seng ended 1.2% higher, and China's Shanghai Composite finished 1% higher. Japan's Nikkei was closed for a public holiday. Meanwhile, the UK's FTSE 100 was up 1%, and Germany's DAX index was 1.2% higher in Europe's early afternoon session.In equities, Taiwan Semiconductor Manufacturing (TSM) shares rose 1.5% after a Reuters report citing the city's deputy mayor, Lo Ta-sheng, that the company will build two buildings at the newly launched Baipu Industrial Park in Kaohsiung, Taiwan.Lumentum (LITE), Qualcomm Technologies (QCOM) and Corning (GLW) stocks were higher after Lumentum said that the companies will showcase a high-density optical die-to-die interconnect for AI scale-up systems at ECOC 2026 in Malaga, Spain. Lumentum shares were up 2.3%, Qualcomm Technologies stock was up 1.3%, and Corning shares rose 4%.On the losing side, Novo Nordisk (NVO) stock was down 4.3% after a Financial Times report that the company is facing shareholder calls to develop new medicines and pursue acquisitions so that it could lower its dependence on its popular weight-loss treatments.
