US equities were set to open in red territory Monday as traders looked ahead to economic data for clues on the Federal Reserve's next policy decision.
The Dow Jones Industrial Average futures fell 0.5%, S&P 500 futures declined 0.5%, and Nasdaq futures slipped 0.4%.
Oil prices surged, with front-month global benchmarks Brent crude and West Texas Intermediate crude both up more than 2%, after members of the Organization of the Petroleum Exporting Countries and their allies agreed to stick to their previously set production plan.
Investors will parse the Institute for Supply Management Services index, slated for release at 10 am ET, ahead of the Federal Open Market Committee's Dec. 13-14 meeting. Forecasters are expecting a 53.3 reading for November compared with October's 54.4 level, according to Bloomberg data.
Also at 10 am ET, data are expected to show a 0.7% rise in US Factory Orders for October following a 0.3% uptick in the preceding month.
In other world markets, Japan's Nikkei closed 0.2% higher, Hong Kong's Hang Seng closed 4.5% higher, and China's Shanghai Composite closed 1.8% higher. Meanwhile, UK's FTSE 100 rose 0.4% and Germany's DAX index fell 0.5%.
In equities, shares of Yumanity Therapeutics (YMTX) were nearly 16% higher pre-bell after the company approved a special dividend in connection with the proposed asset sale to Janssen and merger with Kineta. Activision Blizzard (ATVI) shares gained 2.2% following a media report that the company's employees at its Albany, New York office won a unionization vote.
On the losing side, Top Ships (TOPS) shares slumped 61% after the company priced a unit offering at $2 apiece. Tesla (TSLA) shares fell 3% even after the company's Shanghai factory reported record deliveries for November.