• The Dow Jones Industrial Average .DJI rose 86.52 points, or 0.32 percent, to 26,743.5, the S&P 500 .SPX lost 1.08 points, or 0.04 percent, to 2,929.67 and the Nasdaq Composite .IXIC dropped 41.28 points, or 0.51 percent, to 7,986.96.

Industrials led the Dow to a new closing high on Friday ahead of Monday’s major sector reshuffle, capping a week that largely shrugged off trade worries.

• Australia's market was lower in the morning of the first trading day of the week, following last Friday's record gains on Wall Street.

• The ASX 200 slid by 0.17 percent in the early hours of trading action Down Under, as the heavily weighted financial sector traded down by 0.13 percent. Commonwealth Bank of Australia fell by 0.44 percent, while AMP was down by 0.78 percent.

• Rare earths miner Lynas saw its stock plunging in the morning by 10.71 percent, after the company announced earlier that it was aware of media speculation surrounding a possible review of its operations in Malaysia.

• The markets in Japan, South Korea and China are closed for public holidays on Monday.

• The U.S.-China trade war remains in focus Monday, with tariffs from both parties due to go into effect at 12.01 p.m. HK/SIN. Washington has announced 10 percent duties on $200 billion of Chinese imports, which prompted Beijing to respond with tariffs on $60 billion of U.S. goods. On Friday, the Wall Street Journal reported that China had called off planned trade talks with the U.S. in the wake of a new round of duties.

Reference: Reuters, CNBC