Traders are also weighing the outlook for interest rate cuts in 2025 in light of recent inflation data. Personal consumption expenditures inflation, the Fed's preferred inflation measure, rose 2.4% year-per-year in November, slightly under expectations.

Check back for updates throughout the trading day U.S. equity futures edged higher in early Monday trading as investors looked to the holiday-shortened week and the traditional 'Santa Claus rally' to pull stocks out of their sharp December downturn.

Global stock markets are in turmoil as Christmas approaches but our writer is keen to grab some bargains while prices are low. The post No Santa rally? As the UK stock market plunges 3%, I’m hunting for bargains appeared first on The Motley Fool UK.