Investors are betting on the Fed increasing interest rates in September and key jobs data this week is in focus. The ADP employment report released Wednesday will give an indication of how the labor market is shaping up; stronger employment and wage increases will ramp up expectation of a rate rise next month. European markets are higher on that expectation while Wall Street is set to open slightly higher with reaction to the ADP report in early trading. Asian markets have closed mostly higher as Chinese services sector data showed its best growth in almost a year.
US stock futures are trending higher. Oil is trending higher (Brent $50.26, WTI $45.94 at 6.20am). Gold is trending lower.