Wall Street Set to Open Lower Monday as Investors Look for a Year-End Rally

US stocks Look set to open lower in Monday's trading session as investors hope for a year-end rally following a rough week for the markets.

The Dow Jones Industrial Average futures were down 0.33%, S&P 500 futures were declining 0.03%, and Nasdaq futures were edging 0.02% lower.

Oil prices were moving lower, with front-month global benchmarks Brent crude and West Texas Intermediate crude declining 0.45% and 0.50% respectively.

In other world markets, Japan's Nikkei climbed 1.19%, Hong Kong's Hang Seng rose 0.82%, and China's Shanghai Composite declined 0.50%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was up 0.09%, while Germany's DAX and France's CAC were fell 0.30% and 0.16% respectively.

Later in the morning, non-profit research group the Conference Board will announce the latest reading of its consumer confidence index for December, which is expected to rise to 112.9 from 111.7 the previous month, according to Bloomberg.

In equities, shares of Reliance Global Group soared 217% in Monday's premarket session following a 1.6% loss on Friday. Traws Pharma shares jumped 126% after it said Monday that a phase 1 clinical trial demonstrated the safety and tolerability of tivoxavir marboxil to treat H5N1 bird flu. Kidpik's stock surged 71%, adding to a 15% gain the previous session. Shares of Phio Pharmaceuticals advanced 57%, after rising 1.2% on Friday. And Rumble shares surged 44% after it said late Friday that it has agreed to a $775 million strategic investment from cryptocurrency firm Tether.

On the losing side, shares of iLearningEngines plunged 52% after it said Friday that it voluntarily initiated Chapter 11 bankruptcy proceedings in the US. Onfolio's stock fell 19%, adding to a 4.2% loss the previous session. Shares of Psyence Biomedical P shed 20%, eating into Friday's 29% gain. And Design Therapeutics shares dropped 3% after rising 4.3% the previous session.