By 7:00 am, the futures contract according to trading platform IG showed an increase in Oslo Børs by 0.36 percent from the start.

Roger Berntsen at Nordnet believes Oslo Børs will open 0.2, or within that range [0, 0,4] percent.

Nordnet analysts pointed out that the yield season for the fourth quarter kicked off in full on Friday, leaving investors very excited.

“As per tradition, several major financial firms started the ball, including JPMorgan, Wells Fargo, Citigroup, and Bank of America. That these companies appear to be doing well in such uncertain times is good news for everyone, ” he wrote, while also pointing out that the scanty numbers suggest the US economy is headed for a deep recession, even though many companies have been preparing for it in recent quarters.

Berntsen also pointed out that China stocks continued to rise on Monday, after a stellar start to the year.

“Given the positive momentum in Asia last night, it is conceivable that European stock markets will follow suit today, at least in the opening minutes”, wrote the analyst.

Asia

With the exception of Tokyo, Asian stock markets rallied Monday morning. In Japan, the Nikkei was down 1.15 percent, while the broader Topix index was down 0.73 percent.

China’s Shanghai Composite, on the other hand, gained 1.45 percent, Hong Kong’s Hang Seng gained 0.18 percent, and South Korea’s Kospi gained 0.78 percent.

In India, the Sensex gained 0.20 percent, the S&P/ASX 200 in Australia added 0.82 percent, while the Straits Times in Singapore fell 0.28 percent.

Read the full Asian update here.

Oil prices

Brent oil was down 0.84 percent to $84.56 a barrel early Monday, while WTI was down 0.78 percent to $79.24 a barrel.