U.S. stocks climb in early trading

US stock futures gain, hinting at Monday rebound

The benchmarks, however, ended trading last session of the week on green, as Dow rose by 330 points on Friday and the S&P 500 and Nasdaq by more than 1.4%.

The Dow Jones Industrial Average was up 74.08 points or 0.30% at 24,686.92 while the S&P 500 was also slightly higher, up 7.17 points or 0.28 % at 2,665.06. Brent crude, used to price worldwide oils, advanced 43 cents to $63.03 per barrel in London.

Winners and Losers: DowDuPont and Apple were among the Dow's best-performing stocks.

Clothing brand Guess's stock (-5.25 percent) continues to plummet after supermodel Kate Upton accused co-founder Paul Marciano of sexual misconduct.

Traders said that the investors' move to lock in profits, possibly some computer-programmed trading, combined with concerns that interest rates have sent the equities into correction territory. The index rose 1.5 per cent Friday but still wound up with its worst weekly loss in more than two years. It confirmed a correction on Thursday, when it dropped 10 percent below the record.

Defense contractor General Dynamics will spend nearly $7 billion to buy internet technology company CSRA.

Investors will watch U.S. inflation and retail sales figures on Wednesday particularly closely as they review monthly reports from the U.S. Department of Labor and the National Retail Federation. The S&P has lost about 10 percent and $2.5 trillion in value since late January.

Comcast stock slipped 3 cents to $38.54 while Disney added 30 cents to $103.39. Australia's S&P/ASX 200 rose 0.6 percent to 5,854.60.

"Little has changed in terms of fundamentals", wrote Gaurav Saroliya, director of global macro strategy at Oxford Economics, in a research note on Sunday.

Oil prices have dropped since reaching longtime highs in late January, when US crude peaked at $66 a barrel.

In other energy trading, wholesale gasoline fell 2 cents to $1.68 a gallon. Natural gas slid 3 cents to $2.55 per 1,000 cubic feet.

U.S President Donald Trump revealed the latest budget of the country on Monday and the White House called for $3 trillion in the deficit reduction that shall also include $1.7 trillion in the compulsory spending cuts and at the same time proposing to cut the discretionary spending by 2% a year after 2019. The futures on gold rose by 0.81% to 1,326.30 Dollars per ounce. Silver jumped 43 cents, or 2.7 per cent, to $16.57 an ounce.

Hong Kong's Hang Seng lost 0.2 percent, and Seoul's Kospi rose 0.9 percent.

OVERSEAS: Germany's DAX jumped 1.4 per cent while the CAC 40 in France and the British FTSE 100 both advanced 1.2 per cent.

Traders work on the floor at the closing bell of the Dow Industrial Average at the New York Stock Exchange on Wall Street on February 8, 2018 in New York.

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