By Steve Goldstein, MarketWatch
LONDON (MarketWatch) -- U.S. stock futures rose on Monday as Abu Dhabi came to a $10 billion rescue of ailing Dubai, staving off the potential for a default on a key bond that was due to expire today.
S&P 500 futures rose 4.5 points to 1,107.70 and Nasdaq 100 futures added 8.5 points to 1,800.50. Futures on the Dow Jones Industrial Average added 38 points.
Strong retail-sales data helped push U.S. stocks higher on Friday, with the Dow Jones Industrial Average rising 65 points and the S&P 500 advancing 4 points, though the Nasdaq Composite retreated marginally. Over the week, the S&P 500 advanced a slender 0.04%.
But global stocks advanced after Abu Dhabi lent Dubai the funds necessary to pay off a bond as well as give it breathing space to renegotiate debts on Dubai World. See story.
Meanwhile, Greece's prime minister is due to deliver a speech addressing how the country that's been the subject of negative commentary from rating agencies will cut its budget deficit.
The Hang Seng rose 0.8% in Hong Kong, and the FTSE 100 climbed 0.9% in London.
Platinum and silver futures climbed, though gold futures edged up just $1 an ounce, and oil futures were trading below $70 a barrel.
The dollar dropped against both the Japanese yen and the euro, with the dollar index falling 0.3%.
Banks will be in the spotlight as the House of Representatives passed legislation that would restrict the operations of large lenders and the power of the Federal Reserve.
Bid target Cadbury (CBY 51.45, -0.01, -0.02%) raised its sales and margin outlook as the group continued to resist a takeover bid from Kraft Foods (KFT 26.79, +0.11, +0.41%) .
Google (GOOG 590.51, -0.99, -0.17%) is set to market its own phone next year, according to a report in The Wall Street Journal.
Citigroup (C 3.95, +0.08, +2.07%) is nearing an agreement with the U.S. government to raise more than $10 billion in new capital to help pay back the $20 billion the Treasury Department injected into it.
