European and Asian stock markets largely gained Monday and gold hit a record high after US inflation figures met expectations, soothing concerns about President Donald Trump's latest tariff salvo.

Investors were keeping a wary eye on Washington, where lawmakers have failed to reach a funding compromise to keep the government running, which observers say could affect the release of key data.

The dollar dropped against main rivals, while oil prices retreated on speculation that OPEC+ will increase output, fanning concerns of a glut.

The drop followed last week's rally on mounting tensions between NATO countries and oil producer Russia, increasing the possibility of fresh sanctions on Moscow.

"US (stocks) futures are pointing to a higher open, on track to extend gains after markets closed

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