By Elliot Smith, CNBC–

  • Stocks have been boosted by Friday’s announcement of a ‘phase one’ trade agreement between the U.S. and China, which U.S. Treasury Secretary Steven Mnuchin said will be inked in January.

U.S. stock index futures pointed to a higher open Monday morning.

At around 4:05 a.m. ET, Dow futures rose 58 points, indicating a positive open of more than 75 points. Futures on the S&P 500 and Nasdaq also pointed slightly higher.

Stocks have been boosted by Friday’s announcement of a ‘phase one’ trade agreement between the U.S. and China, which U.S. Treasury Secretary Steven Mnuchin said will be inked in January.

However, some caution remains as details on key aspects of the deal, such as agricultural purchases and the U.S. trade deficit, remain unclear. U.S. Trade Representative Robert Lighthizer has, however, assured that the deal is “totally done.”

In corporate news, Reuters reported Sunday that Boeing is considering whether to cut or halt production of its grounded 737 MAX, after the Federal Aviation Administration indicated that it would not approve the aircraft’s return to service before 2020.

IHS Markit services, manufacturing and composite PMI (purchasing managers’ index) flash data for December is due at 9:45 a.m. ET.

There are no major earnings releases scheduled for Monday.

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