Higher open expected for the Wall Street on Monday after key stock index futures looked up on Monday morning.

The rejection of all recession fears in the American economy by the White House has somewhat calmed investors despite the trade war issues and anxieties over the economic growth.

At 6 a.m. ET, Dow Jones futures indicated a positive open of more than 260 points. The S&P and Nasdaq futures were also up.

Stock market news focused on President Donald Trump’s statement on Sunday that he saw no hint of a recession in the U.S. economy.

“We expect that despite the yield curve inversion, 2019 and most likely 2020 are going to be safe from a U.S. recession,” said Stefan Hofer, managing director at LGT Bank Asia, at the Capital Connection” program of CNBC.

Estee Lauder and Baidu will report earnings on Monday.

European stocks jumped on Monday as news on stimulus from central banks and fiscal measures from major economies such as China and Germany filtered in.

The pan-European Stoxx 600 jumped 1 percent in early trade.

German finance minister Olaf Scholz said Berlinmay spare around 50 billion euros ($55 billion) for extra spending cheered the markets.

China also launched a key interest rate reform to slash borrowing costs for companies affected by the trade war with the U.S.

Oil prices jump

Crude oil prices jumped on Monday as a reaction to the supply concerns triggered by the weekend attack on a Saudi oil facility by alleged Yemeni separatists.

But broad gains were capped by a downbeat OPEC report that stoked pessimism about growth in oil demand.

Brent crude jumped 1.1 percent at $59.28 a barrel at 0255 GMT while the U.S. crude was up 1 percent at $55.42 a barrel.

But state-run Saudi Aramco said oil production was not affected.

The demand outlook on oil will be clear after the arrival of key manufacturing data from Europe and the United States in the coming days, said Michael McCarthy, chief market strategist, CMC Markets.

Asian markets up

Asian shares rose on Monday after U.S. Treasury yields recovered from the lows of last week. Shares in mainland China made gains with the Shanghai Composite jumping 2.1 percent.

Hong Kong’s Hang Seng index jumped 2.4 percent. Japan’s Nikkei 225 rose 0.71 percent while the Topix added 0.61 percent. Kospi in South Korea advanced 0.66 percent while the ASX 200 in Australia jumped 0.97 percent.

GettyImages-Stock market
Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the opening bell, April 24, 2019, in New York City. Photo by Drew Angerer/Getty Images

Indian shares ended moderately higher on Monday. The BSE Sensex was up 0.14 percent while the Nifty 50 rose just 6 points. The positive part was that despite markets sliding from the highs, there were gains for a third straight day.

Gold prices down

Gold prices fell on Monday due to a stronger U.S. dollar and jump in the equities. Many central banks hinted at the stimulus and arrested fears about a sharp economic downturn.

Spot gold fell 0.3 percent at $1,509.13 per ounce at 0354 GMT. The U.S. gold futures also fell 0.3 percent to $1,518.70 an ounce.

“The dollar is getting stronger, and given that gold had a very good rally over the last few weeks, we are just seeing some profit-taking coming in,” said Oanda analyst Jeffrey Halley.