Investing.com - U.S. stock futures pointed to a modestly higher open on Monday after Congressional leaders reached a deal to fund the government until the end of September, averting a government shutdown.
The spending package, which includes a $12.5 billion increase for defense and $1.5 billion for border security, must be passed by the House of Representatives and the Senate by the end of Friday, in order to avoid the first government shutdown since 2013.
The blue-chip Dow futures rose by 36 points or 0.17% by 06:25 ET, the S&P 500 futures added five points or 0.21%, while the tech-heavy Nasdaq 100 futures rose 14.12 points or 0.26%.
Trade volumes remained light on Monday with many markets in Asia and Europe closed for the May Day holiday.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 98.92.
In other markets, oil prices edged lower as rising U.S. production underscored concerns about global oversupply, while gold prices traded moderately lower.
Traders were looking ahead to a raft of economic reports due out later in the day, including figures on inflation and manufacturing.
The U.S. is to release personal income, consumer spending and core inflation for March at 08:30 ET.
At 10:00 ET the Institute of Supply Management will publish its manufacturing survey for April.
There is also a speech from U.S. Treasury Secretary Steve Mnuchin at 07:45 ET. He is due to speak at the Milken Conference, in Los Angeles.