USA markets set for higher open

U.S. stock index futures pointed to a higher open on Wall Street Monday, on the back of a rebound in oil prices and positive sentiment overnight in Asia and Europe.

Crude futures traded higher on Monday, as speculation surrounding potential action by leading producers helped prop up prices. WTI and Brent were hovering around $44.70 and $47.10 per barrel respectively, at 6:57 a.m. ET.

European stocks traded slightly higher while Asia-Pacific indexes finished mixed to mostly higher overnight despite data out of Japan which showed that the economy failed to grow in the three months through June. Japanese indexes finished slightly lower after the gross domestic product data missed forecasts.

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