08:35 AM EST, 01/13/2025 (MT Newswires) -- Traders' diminished expectations of future rate cuts drove US equity futures lower Monday before the opening bell.

Dow Jones Industrial Average futures were off 0.1%, S&P 500 futures were down 0.6%, and Nasdaq futures were 0.9% lower on the first trading day following the December US jobs report, which showed better-than-expected employment numbers that mean diminished chances for monetary easing.

Oil prices advanced, with front-month global benchmark North Sea Brent crude up 1.9% at $81.26 per barrel and US West Texas Intermediate crude 2.3% higher at $78.29 per barrel.

On the economic calendar, the US Treasury's monthly release on the government surplus or deficit is scheduled today, reflecting policy expectations on spending and taxation. The higher the deficit, the more treasury bonds the government must issue to finance its budget.

Around the world, Japan's Nikkei closed 1.1% lower, Hong Kong's Hang Seng ended 0.3% lower, and China's Shanghai Composite finished 0.3% lower. Meanwhile, the UK's FTSE 100 fell 0.3%, and Germany's DAX index lost 0.5% in Europe's early afternoon session.

In equities, pharmaceutical stocks advanced on merger news.

SAGE Therapeutics ( SAGE ) shares were up over 37% pre-bell following news Friday that it has received a $7.22 per share acquisition offer from Biogen. Intra-Cellular Therapies ( ITCI ) shares were up almost 35% on news that it is being acquired for $14.8 billion by Johnson & Johnson ( JNJ ) .

Among premarket losers, tech company SEALSQ ( LAES ) shares fell 13% following heightened volatility that led to a trading halt on Friday. E-boat maker Vision Marine Technologies ( VMAR ) shares were down nearly 28% following news that the company was selling nearly half its shares in a private placement.