Investing.com - U.S. stock futures pointed to a modestly higher open on Monday, with the three main indexes on track to post fresh records on the first trading day of the fourth quarter.
The blue-chip Dow futures was up 44.5 points or 0.2% by 06:47 AM ET (10:47 GMT), the S&P 500 futures added on 3.75 points or 0.15%, while the tech-heavy Nasdaq 100 futures advanced 12.13 points, or 0.2%.
On Friday, the S&P 500 and the Nasdaq Composite closed at all-time highs while the Dow Jones Industrial Average ended within 0.1% of its record closing high set on September 20.
The dollar surged as U.S. Treasury yields climbed amid speculation that U.S. President Donald Trump is considering former Federal Reserve Governor Kevin Warsh to succeed current Fed Chair Janet Yellen at the central bank.
Warsh is seen as more hawkish than Yellen so his appointment could lead to a faster pace of interest rate hikes.
The dollar has risen in recent weeks as investors grow more optimistic about the prospect for U.S. rate hikes and tax cuts that some expect to boost the U.S. economy.
Investors were looking ahead to a manufacturing report for September from the Institute of Supply Management at 10:00 AM ET.
Dallas Fed President Rob Kaplan was also due to speak at 02:00 PM ET.
European shares were broadly higher but the euro and Spain’s IBEX index were lower after a police crackdown on an independence vote in Spain’s Catalonia rattled investors.
Asian shares rose overnight after upbeat economic data from China and Japan, though several major markets in the region were shut for holidays.
In other markets, oil prices were lower as concerns over an increase in U.S. drilling and higher output by OPEC weighed. Meanwhile, gold futures fell to the lowest levels in seven weeks on the back of the stronger dollar.