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U.S. equity futures bounced higher Monday as investors looked to claw back losses from an early September selloff on Wall Street while looking to a key inflation reading later in the week.

Updated at 8:38 AM EDT

Boeing deal

Boeing ( BA ) shares jumped higher in early trading after the planemaker reached a tentative deal with its biggest union that could avoid a damaging strike later in the year.

The deal, which will face a union ballot on Thursday, would give the 32,000 members members a 25% hike spread over the next four years and commit to making the next phase of its 737 Max in the Seattle area.

Boeing shares were marked 3.6% higher in premarket trading to indicate an opening bell price of $163.27 each.

Stock Market Today

Stocks closed out their worst week in more than a year Friday following a weaker-than-expected August jobs report, which stoked concern about cooling growth and recession risks heading into the final months of the year.

The selling was compounded by action in the bond market, which lifted 10-year note yields past 2-year yields for the first time in more than two years. That move could suggest traders are growing increasingly concerned with the U.S. economy's health.

Benchmark 2-year notes were last marked at 3.708%, with 10-year paper trading at 3.761%.

The S&P 500 ended the first week of the month with a 4.25% decline, while the tech-focused Nasdaq fell 5.77% thanks to notable pullbacks in Magnificent 7 stocks such as Nvidia ( NVDA ) , Tesla ( TSLA ) and Meta Platforms ( META ) .

Stocks are looking to a firmer open to start the week, however, with Wednesday's August inflation report in sharp focus now that bets on an outsized Federal Reserve rate hike faded. That market move followed Friday's jobs report, which showed a jump in monthly and annual wage gains.

CME Group's FedWatch pegs the odds of a 50-basis-point reduction at just 21% but expects at least a full percentage point of rate cuts between now and year's end.

Heading into the start of the trading day on Wall Street, futures tied to the S&P 500 suggest a 38-point opening-bell gain, while those linked to the Dow Jones Industrial Average are priced for a 232point advance.

The tech-focused Nasdaq is called 158points higher, paced by early gains for Nvidia, Tesla and Apple ( AAPL ) , which hosts its iPhone launch event later today.

Other stocks on the move include Palantir Technologies ( PLTR ) , which jumped 7.15% in premarket following Friday's move by S&P Global Indices to include the tech group in the S&P 500 as of Sept. 23.

Related: Palantir stock leaps on big S&P 500 boost for data analytics group

Palantir will replace American Airlines ( AAL ) , with Dell Technologies ( DELL ) and Erie Indemnity ( ERIE ) joining the benchmark and Etsy ( ETSY ) and Bio-Rad Labs ( BIO ) exiting.

More Wall Street Analysts:

In overseas markets, Europe's Stoxx 600 was marked 0.82% higher in early Frankfurt trading ahead of this week's European Central Bank rate decision, slated for Thursday, while Britain's FTSE 100 gained 0.73% in London.

Overnight in Asia, the Nikkei 225 closed 0.48% lower in Tokyo while a muted set of inflation data in China kept a lid on the regional MSCI ex-Japan index, which fell 1.19% into the close of trading.

Related: Veteran fund manager sees world of pain coming for stocks