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Futures down: Dow 0.05%, S&P 500 0.08%, Nasdaq 0.14%
Dec 9 (Reuters) - U.S. stock index futures were subdued
on Monday after the S&P 500 and the Nasdaq notched record
closing highs in the previous session on upbeat corporate
forecasts, while investors awaited a key inflation report due
later in the week.
The consumer prices index (CPI) data due on Wednesday is
among the last major datasets ahead of the Federal Reserve's
Dec. 17-18 meeting and could influence the bank's monetary
policy path.
Money market participants are now pricing in an about
87% chance of a 25-basis-point cut in the next week, according
to the CME's FedWatch tool.
The bets increased after strong November employment numbers
on Friday, with some analysts saying the data was not hot enough
to keep the Fed from cutting rates this month.
However, a host of Fed officials including Chair Jerome
Powell have said that the central bank could afford to be more
cautious with its monetary policy easing path, given the
resilience of the economy.
At 05:29 a.m. ET, Dow E-minis were down 24 points,
or 0.05%, S&P 500 E-minis were down 5 points, or 0.08%,
and Nasdaq 100 E-minis were down 30.5 points, or 0.14%.
Wall Street's main indexes kicked off December on a broadly
positive note, with benchmark S&P 500 and the tech-heavy
Nasdaq logging gains in their first week, while the Dow
ended the week marginally lower.
U.S. equities surged in November as Donald Trump's
victory in the presidential election and his party sweeping both
houses of Congress raised expectations of a friendlier policy
stance towards companies.
Investors were also keeping an eye on political developments
in Syria, France and South Korea.
Among notable premarket movers, Workday and Apollo
Global Management ( APO ) jumped 10% and 5.9%, respectively, on
their planned inclusion into the S&P 500 index.
Interpublic Group advanced 13.8% after a report said
marketing conglomerate Omnicom ( OMC ) was in advanced talks to
acquire the advertising company. Omnicom ( OMC ) shares were down 2.6%.
U.S.-listed shares of Chinese companies also gained after
the Chinese Politburo hinted at a shift to looser monetary
policy next year and more proactive fiscal policy to spur
economic growth. Alibaba was up 6.5%, PDD Holdings ( PDD )
climbed 9.8% and Baidu added 5.6%.
Most megacap and growth stocks were subdued, while Tesla
outperformed with a 1.9% gain.
(Reporting by Purvi Agarwal in Bengaluru; Editing by Devika
Syamnath)