Asian stocks started the week with gains ahead of central bank policy meetings in the United States and Japan, after a broad rally on Wall Street that capped a tumultuous week. U.S. futures and oil prices rose.

The index has been on a breathtaking run, but some S&P 500 stocks still have big upside, according to Wall Street.

After getting trounced by their larger rivals for years, some of the smallest stocks on Wall Street have shown much more life recently.

Asian markets rallied Monday, tracking a surge on Wall Street after data showing US inflation slowed further in June stoked hopes the Federal Reserve will cut interest rates.