US pre-open: Futures higher ahead of first session of Q4

Wall Street futures were trading higher ahead of the bell on Monday after major indices wrapped up the third quarter in the red.

As of 1215 BST, Dow Jones futures were up 0.53%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.34% and 0.02% firmer, respectively.

The Dow closed 500.10 points lower on Friday, extending losses recorded in the previous session as market participants continued to be concerned about future rate-hiking decisions from the Federal Reserve and the resulting impact on stocks.

After a hellish third quarter, where the Dow Jones shed 6.66%, heightened inflation and the Federal Reserve's attempts to bring surging prices to a stop, despite what it may do to the US economy, will continue to remain at the forefront of investors' minds.

Also in focus, OPEC+ was said to be considering an oil output cut of over 1.0m barrels per day, marking the biggest move taken by the cartel to address weakness in global demand. West Texas Intermediate futures rose 3.21% on the news to trade at $82.04 a barrel.

On the macro front, S&P Global's September manufacturing PMI will be published at 1445 BST, while last month's ISM manufacturing PMI and August construction spending numbers will follow at 1500 BST.

No major corporate earnings were slated for release on Monday.

Reporting by Iain Gilbert at Sharecast.com