1. Wall Street closed due to Labor Day

Asian shares closed higher on Monday while European equities advanced after a weaker-than-expected U.S. jobs report prompted investors to trim expectations that the Federal Reserve would hike interest rates as early as this month.

The notable exception to the gains was with London’s FTSE 100, trading slightly lower despite the upbeat services data.

With Wall Street closed for the Labor Day holiday, U.S. futures traded mixed and flat. At 10:09AM GMT, the blue-chip Dow futures gained 8 points, or 0.04%, S&P 500 futures inched up 1 point, or 0.05%, and the Nasdaq 100 futures slipped 3 points, or 0.06%.

2. GBP jumps on upbeat U.K. data

The pound rose to more than a one-month high against the U.S. dollar on Monday, boosted by data showing that activity in the U.K. service sector returned to expansionary territory in August, while the greenback remained broadly under pressure.

In a report, market research group Markit said the seasonally adjusted Markit/CIPS services purchasing managers’ index (PMI) rose to 52.9 last month from a reading of 47.4 in July, beating expectations for a reading of 50.0.

The month on month gain in the index of 5.5 points was the largest in the 20-year history of the survey.

GBP/USD hit an intraday high of 1.3375, cable’s highest level since July 15.

The pair subsequently consolidated at 1.3330, climbing just 0.27% at 10:08AM GMT.

3. Oil prices spike 5%

Oil prices jumped more than 5% on Monday, amid reports that Saudi Arabia and Russia will work together to support the market, fueling hopes of an output freeze.

Crude later pared gains after as the top oil producers Saudi Arabia and Russia delivered the rumored joint statement during the G20 summit in China calling for cooperation to support the oil market.

This ahead of an informal OPEC meeting on the sidelines of the International Energy Forum in Algeria between September 26-28.

Reports also suggested that non-OPEC oil producer Russia would likely send a delegation to November's OPEC meeting to discuss an output freeze.

U.S. crude oil futures gained 3.49% to $45.69 at 10:03AM GMT, while Brent oil rose 3.25% to $48.35.

4. China and euro zone PMI readings mixed

Growth in China's services sector picked up in August as new orders expanded modestly and employment stabilized, and business expectations rose to a six-month high.

The Caixin/Markit services purchasing managers' index (PMI) rose to 52.1 in August on a seasonally adjusted basis, from 51.7 in July, beating expectations for a smaller rise to 51.9.

To the contrary, the euro zone services PMI unexpectedly dropped to 52.8, coming in under forecasts for the index to remain stable at 53.1 and bringing overall business growth in the region to a 20-month low.

These readings came ahead of the U.S. data to be released on Tuesday. The Institute of Supply Management will provide its own data on August service sector activity at 14:00GMT on Tuesday. The gauge is expected to inch down 0.5 points to 55.0. Anything above 50.0 signals expansion.