Stock futures edged higher in overnight trading on Sunday evening (Monday AEDT) as markets prepared for a holiday-shortened week.
By 10:15 am AEDT (11:15 pm GMT) futures for the Dow Jones Industrial Average and the S&P 500 climbed 0.3% apiece, while Nasdaq 100 futures added 0.4%.
The New York Stock Exchange is set to close early on Tuesday for Christmas Eve and remain shut on Christmas Day. Trading volumes are expected to be subdued during the abbreviated week.
The market is recovering from a volatile period after the Dow suffering a 10-day losing streak - the longest since 1974. The index plunged 2.6% last Wednesday after the Federal Reserve signalled a reduction in its projected rate cuts for 2025.
However, a cooler-than-expected inflation report on Friday helped stocks regain some of the lost ground.
As of December, the Dow has fallen 4.7% month-to-date, while the S&P 500 is down 1.8%. The tech-heavy Nasdaq Composite, however, has bucked the trend, rising 1.6% this month.
Among political developments, President Joe Biden signed a government funding bill over the weekend, preventing a shutdown by maintaining federal agency funding at current levels for the next three months.
