U.S. stock index futures pointed to a higher open on Monday, as investors looked ahead to an anticipated Federal Reserve interest rate cut later in the week, as well as several key data releases that will help set the tone for policy next year.

While some analysts see a pause in the Fed's rate cutting cycle, Apollo's chief economist thinks the Fed could shock markets with a rate hike next year.

Stocks showed mixed performance on Monday as investors awaited the Fed's rate decision and key economic data. The S&P 500 and Nasdaq rose, while the Dow was flat. Traders anticipate a rate cut, but the focus is on the Fed's 2025 outlook.

The S&P 500 and the Nasdaq opened higher on Monday, while the Dow was little changed, as investors looked ahead to an anticipated Federal Reserve interest rate cut later in the week. The Dow Jones Industrial Average fell 2.