US pre-open: Equity futures pointing higher ahead of OPEC+ meeting
Stock market futures are pointing to moderate gains on Wall Street on top of the previous day's gains as traders wait on OPEC+'s output decision.
As of 1234 GMT, futures tracking the Dow Jones Industrials were 110.0 points higher to 36,565.0, while those tracking the S&P 500 were climbing 15.75 points to 4.801.75.
In parallel, front month West Texas Intermediate crude oil futures were edging up by 0.2% to $76.23 a barrel.
OPEC+ energy ministers were expected to announce later in the day that they would go ahead with their previously planned 400,000 barrel a day increase in their combined production.
Over the preceding days, several well-known analysts had forecast a corecction for US stocks over the course of 2022.
But Mislav Matejka at JP Morgan was not among them.
In a research note sent to clients, the strategist wrote: "We believe there is further upside for stocks, despite a strong run so far, and argued in our December Chartbook that the dip driven by the Omicron scare should be bought into.
"The new variant is proving to be milder than prior ones, and the adverse impact on mobility much more manageable."
The Institute for Supply Management will publish the results of its manufacturing sector survey for the month of December at 1600 GMT.
The US Department of Labor will publish its JOLTS labour market survey alongside.