US pre-open: Futures trade higher following Friday's heavy sell-off

Wall Street futures were in the green ahead of the bell on Monday after registering heavy losses in the previous session.

As of 1200 BST, Dow Jones futures were up 0.94%, while S&P 500 and Nasdaq-100 futures had the indices opening 1.13% and 1.32% firmer, respectively.

The Dow closed 403.89 points lower on Friday as Q3 earnings from some of the nation's biggest banks started to roll in.

Earnings will again be investors' primary focus this week, with Bank of America posting its latest set of quarterly numbers ahead of the bell, while Goldman Sachs, Netflix, Tesla, IBM, Johnson & Johnson, United Airlines, AT&T, Verizon and Procter & Gamble will all report over the next five days.

AvaTrade's Naeem Aslam said: "US and European futures are trading with caution as traders are concerned about the sell-off that took place over on Wall Street last week. Soaring inflation, weak economic growth and geopolitical uncertainty are some of the factors that are very much sitting on the dashboard of most traders.

"Additionally, traders are going to remain focused on the big earnings reports which will be rolling in this week. When it comes to earnings, the focus is one important factor and that is how much of a downward revision we are going to see in their outlooks, given that inflation is still very anchored in its place."

On the macro front, October's New York Empire State manufacturing index will be published at 1330 BST, while the Federal Government's September budget statement will follow at 1900 BST.

Headlines from across the pond were also drawing an amount of investor attention prior to the open following further policy reversals from British prime minister Liz Truss, who cancelled a tax-cut plan and fired her finance minister last week.

Reporting by Iain Gilbert at Sharecast.com