(fxcue news) - Indian shares look set to open on a flat note Monday despite mostly positive cues from global markets. Investors may ponder over the domestic economic outlook after data showed India's industrial output contracted in August for the first time since October 2022. Trading later in the week may be influenced by foreign fund inflows, crude oil price movements, the latest updates on the geopolitical front and a batch of corporate earnings. Reliance Industries, Infosys, HDFC Bank, Axis Bank, and HCL Tech are among the prominent companies that will unveil their quarterly earnings results this week. Asian stocks traded mixed this morning, with Japanese markets shut for a holiday. China's consumer inflation unexpectedly eased in September, while producer price deflation deepened, raising concerns about weak domestic demand. Also, China's finance ministry flagged more fiscal stimulus over the weekend but left out key details on the overall size of the package. Minister of Finance Lan Foan pledged to "significantly increase" debt, offer subsidies to people with low incomes, support the property market and replenish state banks' capital, among other measures. Gold edged lower in Asian trading as the dollar extended gains on reduced bets of outsized Fed rate cuts. Oil prices fell nearly 2 percent as China demand concerns overshadowed fears of a worsening conflict between Israel and Iran. The United States said on Sunday it will send U.S. troops to Israel along with an advanced U.S. anti-missile system to bolster the country's air defenses following missile attacks by Iran. U.S. stocks rose Friday as investors cheered strong earnings results from the likes of JPMorgan Chase and Wells Fargo, and a benign producer price inflation reading. Data showed producer prices in the U.S. were unexpectedly unchanged in September after rising by 0.2 percent in August. The annual rate of growth in producer prices slowed to 1.8 percent from an upwardly revised 1.9 percent in August. The Dow climbed 1 percent and the S&P 500 added 0.6 percent to reach new record closing highs while the tech-heavy Nasdaq Composite edged up 0.3 percent. European stocks closed higher on Friday as German inflation fell to its lowest level in more than three years and traders looked ahead to highly anticipated fiscal stimulus from China. The pan European STOXX 600 advanced 0.6 percent. The German DAX gained 0.9 percent, France's CAC 40 rose half a percent and the U.K.'s FTSE 100 inched up 0.2 percent.