➤ ECB expected to unveil economic stimulus package this week.
➤ Fed's Powell flags "significant risks" to outlook, downplays recession fears.
➤ UK GDP growth beats estimates in July.
➤ Oil rises as Saudi names new energy chief.
U.S. stock futures rose while European equities traded mixed as the world's major central banks prepared to unveil stimulus measures aimed at easing concerns about a slowing global economy.
The Federal Reserve is widely expected cut its benchmark interest rate by 25 basis points next week following Friday's weaker-than-expected August jobs report. Also on Friday, Fed Chairman Jerome Powell vowed to use all tools to maintain a healthy U.S. economy, which he said is most likely to grow moderately amid "significant risks."
The European Central Bank is primed to announce a stimulus package at its Sept. 12 meeting that will probably include a resumption of bond purchases, though policymakers appeared at odds over the planned measures' nature and size.
Florian Hense, European economist at Berenberg, said the ECB is likely to introduce a "compromise package," which may include a resumption of quantitative easing at €20 billion to €30 billion a month for at least 12 to 18 months.
Stock futures for the S&P 500 and Nasdaq 100 were up 0.2% each at about 7 a.m. ET.
Stocks across major European indices were mixed, with the FTSE 100 falling 0.5%, while Germany's DAX gained 0.4%. France's CAC 40 was little unchanged.
The People's Bank of China on Sept. 6 cut the reserve requirement ratio for all banks by 0.5 percentage points to boost slowing economic growth.
The Shanghai SE Composite index gained 0.8% in the wake of the PBoC's action, while Hong Kong's Hang Seng ended the session flat.
China reported a trade surplus in August that narrowed from the prior month as exports unexpectedly declined year over year.
Elsewhere, Japan's Nikkei 225 rose 0.6% despite a downward revision to the country's second-quarter GDP growth.
The euro was little changed at $1.1025, while sterling gained 0.7% to $1.2367 after data showed that the U.K. economy grew at a stronger than expected pace in July following the prior month's stagnation.
The U.K. government will put forward a new motion later seeking an early general election ahead of the Oct. 31 Brexit date. It confirmed that parliament will be suspended this evening until Oct. 14.
The Japanese yen was little changed at 106.99 per dollar.
The Dollar Index, which tracks the greenback's performance against a basket of majors, was little changed at 98.3600.
Government bonds fell around the world as yields on 10-year Treasurys added 3 basis points to 1.59%. Yields on German Bunds due in a decade rose 4 basis points to negative 0.60%.
In commodities, oil rallied as Saudi Arabia's King Salman named his son, Prince Abdulaziz Bin Salman, as the country's new energy minister. Brent crude oil was trading 0.5% higher to $61.84 per barrel on the ICE Futures Exchange.
Gold spot ticked up 0.2% to $1,509.47 per ounce.
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75% of companies in S&P 500 Financials Index ended August in the red
The day ahead:
12:30 p.m. ET — TD Ameritrade Investor Movement Index
3 p.m. — U.S. consumer credit (Econoday consensus: $16.0 billion)
9:30 p.m. ET — China consumer price index (Econoday consensus: 2.6% year over year)
9:30 p.m. ET — China producer price index (Econoday consensus: -0.9% year over year)
