European markets set to edge higher in holiday-thinned trade

Trump averted a government shutdown late Sunday, and extended unemployment benefits to millions of Americans. The signing came days after Trump suggested he would veto the legislation, demanding $2,000 direct payments to Americans, instead of $600. Stock futures in the U.S. rose slightly on the news.

In Asia, shares of Alibaba in Hong Kong dropped more than 8% for the second straight session after Chinese regulators ordered Alibaba-affiliate Ant Group to rectify its businesses.

Back in Europe, traders will likely react to the announcement of a Brexit trade deal between the U.K. and the EU. The agreement, sealed after markets closed on Dec. 24, still needs to be approved this week by both U.K. and EU Parliaments before the Dec. 31 deadline.

—CNBC’s Eustance Huang and Yun Li contributed to this article.

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