Across the pond, the UK's FTSE 100 slipped 0.2%, after closing down 0.9% on Friday. PageGroup reported a 17% drop in gross profit for the fourth quarter, down to GBP196.7 million. The company anticipates full-year operating profit at the lower end of its consensus range due to tough market conditions, especially in Europe.

Meanwhile, BP plc and Shell shares are enjoying a boost, thanks to Brent Crude prices climbing above $80 a barrel.

In a strategic move, GSK has agreed to acquire biopharma firm IDRx for up to USD1.15 billion. This acquisition includes IDRX-42, a molecule for treating gastrointestinal stromal tumors. Entain expects its full-year EBITDA to hit the top of its guidance range, despite a USD250 million loss from BetMGM, thanks to favorable sports results in the fourth quarter.

In other news, Chancellor Rachel Reeves remains committed to meeting fiscal rules despite rising government borrowing costs. She has secured deals worth GBP600 million with China, aiming to bolster economic ties. Over in Germany, the Social Democratic Party has confirmed Chancellor Olaf Scholz as its top candidate for the upcoming elections.

Today, keep an eye on the release of US consumer inflation expectations and the monthly budget statement.

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