U.S. equity futures were slightly higher on Monday after the major averages capped their best week of the year. Futures tied to the Dow Jones Industrial Average rose 30 points, or 0.1%. S&P 500 futures ticked higher by 0.2% along with Nasdaq-100 futures. Citigroup shares moved slightly higher before the bell. CNBC reported that the company’s reportedly considering job cuts of at least 10% across several major businesses. All of the major averages were coming off their best weeks of the year so far, also striking a positive chord to begin November trading. The Dow ended last week up by 5.07% for its biggest weekly advance since October 2022. The S&P advanced 5.85% in that time, and the Nasdaq Composite jumped 6.6%. It was the best week since November 2022 for both indexes. “Oversold conditions, solid earnings, hope for an end to the Federal Reserve’s rate-hiking campaign, and a sizable pullback in interest rates have brought buyers back into the market,” said LPL Financial’s Adam Turnquist. A soft monthly jobs report also drove bond yields lower, giving a boost to equities. Although the week ahead will be light on economic data and company earnings, seasonal tailwinds could help further the recovery in stocks. November is the best-performing month for the S&P 500, according to the Stock Traders’ Almanac. Turnquist noted it also kicks off the best six-month return period for the market since 1950. The S&P 500 has generated an average return of 7% from November through April since then, he said. Earnings season is winding down, with 400 S&P 500 companies having already reported their quarterly financial results. Investors this week are still looking forward to updates this week from Walt Disney, Wynn and MGM Resorts, Occidental Petroleum and D.R. Horton. Meanwhile, traders will also be watching Federal Reserve Chair Jerome Powell, who is scheduled to speak twice in the coming days. Last week the central bank kept rates unchanged for a second straight meeting as bond yields tumbled, and investors are hoping its rate-hiking campaign may be over. “If you look at the totality of the data that has come in over the last several weeks, you see an overall very strong picture,” Bharat Ramamurti, former deputy director of the National Economic Council, told CNBC’s “Closing Bell: Overtime” on Friday. “I would be surprised if the Fed was going to raise rates again this year and this may well be the top of the hiking cycle.” Fed Governor Lisa D. Cook is scheduled to speak on Monday. Several other Fed officials are making public remarks later in the week as well, including New York Federal Reserve President and CEO John Williams, Atlanta Federal Reserve President Raphael Bostic, Richmond Federal Reserve President Thomas Barkin and Dallas Fed President Lorie Logan. U.S. Treasury yields were higher on Monday as investors assessed the outlook for interest rates after Friday’s jobs report ahead of a week that will be light on the economic data front. At 5:53 a.m. ET, the yield on the 10-year Treasury was up by more than 3 basis points at 4.595%. The 2-year Treasury was last trading over 4 basis points higher at 4.878%. South Korea stocks surged on Monday after the country re-imposed a ban on short selling, while most Asia-Pacific markets took heart from a soft U.S. jobs report that helped reduce interest rate expectations. South Korea’s Kospi jumped 5.66% to close at 2,502.37, and the Kosdaq soared 7.34% to end at 839.45. Both indexes closed out their best session since late March 2020. Returning from a long weekend, Japan’s Nikkei 225 gained 2.37% at 32,708.48, while the Topix added 1.64% to hit its highest level in over one month at 2,360.46. Hong Kong’s Hang Seng index rose 1.77% in the final hour of trading. Mainland China’s CSI 300 index gained 1.35% to close at 3,632.61. In Australia, the S&P/ASX 200 closed 0.28% higher at 6,997.40. Oil prices rose on Monday, after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Brent crude futures rose $1.36, or 1.6%, to $86.25 a barrel , while U.S. West Texas Intermediate crude was at $81.94 a barrel, up $1.43, or 1.8%. Oil rebounded on Monday after Brent and WTI futures each lost around 6% in the week to Nov. 3. Gold prices slipped on Monday after a slight uptick in U.S. bond yields and ahead of a speech by Federal Reserve Chair Jerome Powell later this week for more clarity on the interest rate outlook. Spot gold was down 0.3% at $1,986.82 per ounce after rising above the key $2,000 level on Friday. U.S. gold futures fell 0.3% to $1,993.80.