U.S. stock futures rose, with support coming from stronger markets overseas and a deal for General Electric.
Less than 90 minutes before the start of trading, Dow Jones Industrial Average futures were up 37 points at 11381. Standard & Poor's 500-stock index futures added 3.70 points to 1239.60, and Nasdaq 100 futures rose 4.75 points to 2219.75. Changes in futures don't always accurately predict early market moves after the opening bell.
Markets in Asia and Europe rallied after the People's Bank of China surprised observers by not increasing interest rates following strong inflation data released over the weekend. China on Friday raised banks' reserve-requirement ratio for the third time in a month.
GE said it would pay $1.3 billion for U.K. energy-equipment group Wellstream Holdings. The proposed acquisition will help GE boost its presence in the oil-and-gas sector, notably in Brazil, the company said in a statement. Wellstream's board of directors said it will recommend shareholders accept the deal.
GE was up 0.6% premarket, while Wellstream shares climbed 5.3% in London.
Dell, which said last week it was in exclusive talks to buy Compellent Technologies, has agreed to buy the data-storage provider for $960 million, slightly more than it had originally indicated. Dell was off 1.4% premarket, while Compellent was down 2.8%.
The head of Emirates airline, Sheikh Ahmed bin Saeed Al Maktoum, was named chairman of conglomerate Dubai World, which also overhauled its board. Dubai World, which rocked global markets a year ago after announcing a freeze on loan payments, owns nearly 10% of MGM Resorts International. MGM shares rose 1.3% in premarket trade.
Wal-Mart Stores, meanwhile, said Monday that it is closing its Moscow representative office, given there is "no clear acquisition partner in the near term." Wal-Mart said it will continue to pursue market entry opportunities in the country.
A much-debated tax agreement is expected to comfortably clear a crucial hurdle in the Senate on Monday, but Democrats in the House of Representatives remained eager to test whether they could push Republicans to raise the proposed tax rate on estates.
There are no economic data of note or earnings for investors to sink their teeth into Monday.
Friday, the S&P 500 reached its highest close since September 2008 as investors cheered mostly positive economic data.
Treasury prices fell, pushing the yield on the 10-year note to 3.377%, from 3.297% late Friday. The euro firmed to $1.3264, compared with $1.3228 late Friday in New York. The dollar was at 84.06 yen from 83.94 yen, while the pound slid to $1.5727 from $1.5810. Oil and gold prices rose.
Write to Barbara Kollmeyer at barbara.kollmeyer@dowjones.co
