Here's what you need to know before the US market open at 2:30pm London time.
US stock futures are broadly flat in the pre-market. The S&P is 0.03 per cent lower, the Nasdaq is down by 0.10 per cent, while the Dow is pointing 0.01 per cent higher. The US 10-year yield is up two basis points at 1.59 per cent.
European markets have had a boost from the oil agreement last night, while Asian markets also ended higher.
Markets swung wildly this morning after Opec provisionally agreed to cut oil output for the first time since 2008.
The Organisation of the Petroleum Exporting Countries (Opec) said yesterday that it would cut output to a range of 32.5-33m barrels per day. It surprised commentators as past attempts to thrash out a freeze deal had collapsed due to infighting.
But how much each country will cut production will be decided at the next formal Opec meeting in November, when an invitation to join could also be extended to non-Opec producers such as Russia.
It's not just Deutsche that's suffering
German lender Commerzbank has today announced it will be slashing just shy of 10,000 jobs, while it will also need to halt dividend payouts to cover the cost of the latest stages of its business overhaul.
Around 9,600 full-time jobs will be shed from the bank, as it starts to close down some of its non-core business divisions and focuses on digitisation and automation of workflows to boost efficiency.
The news of the job cuts at Commerzbank come as fellow German bank Deutsche battles rumours about its financial health.
Read more: Deutsche Bank's share price hits record low
Over the weekend, reports emerged that German Chancellor Angela Merkel would not be prepared to offer Deutsche Bank state assistance, at a time when it is facing a record $14bn (£10.8bn) fine from the US Department of Justice for mis-selling mortgage-backed securities. The news sent the share price plummeting to its lowest level since the 1980s.
Stocks to watch
Oil majors Exxon Mobil and Chesapeake are up almost one per cent in pre-market trading – getting a lift from the Opec deal. Elsewhere Royal Dutch Shell, BP, and BHP Billiton have all done well so far today.
US lender Wells Fargo's chairman and chief executive John Stumpf will testify at the House Financial Services Committee later today.
Yesterday Stumpf said he would forego shares worth $41m and Carrie Tolstedt, the former head of the retail division, will miss out on $19m of shares after the company board ordered an investigation in to the ongoing bank account scandal as Federal Reserve chair Janet Yellen came under pressure to order a break-up of the lender.
Companies reporting today
Soft drink giant PepsiCo posts its results ahead of the open, along with ConAgra Foods and consultants Accenture.
After the close wholesale supermarket Costco releases its latest quarterly numbers.
In economic news
Gross domestic product, wholesale inventories, and initial jobless claims are all out before the market open.
And pending home sales cross the wires just after.