Global stocks, Dow futures regain ground as oil prices rebound

Global stocks regained ground Monday following a rough ride last week. Dow futures surged nearly 300 points and Nasdaq-100 futures also indicated a strong start for Wall Street when U.S. markets open later, with a rebound in oil prices providing some fresh optimism to begin the week.

Where are markets trading now?

Dow Jones Industrial Average futures

YMZ8, +1.10%

jumped 270 points, or 1.1%, to 24,528, while S&P 500 index futures

ESZ8, +1.20%

 surged 32 points, or 1.2%, to 2,661.75. Nasdaq-100

NQZ9, -1.74%

 rallied 112 points, or 1.7%, to 6,442.75.

Gains were also seen across Asian and Europe markets. The Stoxx Europe 600 Index

SXXP, +1.09%

 was up 1.2% while Japan’s Nikkei Stock Average

NIK, +0.76%

 gained 0.7%

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On Friday, the Dow Jones Industrial Average

DJIA, -0.73%

fell 178.74 points, or 0.7%, to 24,285.95, the S&P 500 index

SPX, -0.66%

off 17.37 points, or 0.7%, at 2,632.56, while the Nasdaq Composite Index

COMP, -0.48%

retreated 33.27 points to 6,938.98, a decline of 0.5%.

Last week, the Nasdaq tumbled 4.3%, the Dow ended the week 4.4% lower, while the S&P 500 notched a week-on-week decline of 3.8%. It marked the worst Thanksgiving week since 2011 for all three U.S. indexes.

What’s driving stocks?

Losses for oil prices helped drive stocks lower last week, and the reverse was true for Monday. After losing 7.7% in Friday’s session alone, U.S. crude futures

CLF9, +1.15%

 rose 1.6% to $51.20 a barrel, while Brent crude

LCOF9, +1.82%

 jumped 2% to $60.01 on Monday.

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In Europe, reports of a meeting between Prime Minister Giuseppe Conte and European Commission President Jean-Claude Juncker that could mean an end to a budget standoff between Italy and the EU has provided support for Europe stocks. U.K. Prime Minister Theresa May also walked away from an EU meeting with approval for her Brexit deal.

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Shares of Inc.

AMZN, -0.97%

 were up over 2% in thin premarket trade amid forecasts Cyber Monday holiday shopping is expected to generate $7.8 billion in sales this year, a gain of 18% on the previous year, making for the biggest online shopping day in the U.S. ever, according to Adobe Analytics.

While foot traffic to major retailers was down during Thanksgiving and Black Friday, internet sales for the period surged 26.4% from a year earlier to $12.3 billion.

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