The initial trading of U.S. Futures Index point to a broadly higher opening for Wall Street.
Asian shares closed mixed on Monday, while European shares are trading higher.
The week is awaiting various economic data such as producer and consumer prices, giving clue to inflation. Retail sales, industrial production, housing starts and home-builder confidence.
Investors are looking for the Treasury budget that would give the first feel of tax cut for the year.
As of 6.30 am ET, the Dow futures were gaining 262 points, the S&P 500 futures were adding 29.75 points and the Nasdaq 100 futures were progressing 74 points.
U.S. stocks closed higher on Friday. The Dow surged up 330.44 points or 1.4 percent to 24,190.90, the Nasdaq jumped 97.33 points or 1.4 percent to 6,874.49 and the S&P 500 shot up 38.55 points 1.5 percent to 2,619.55.
On the economic front, Treasury Budget for January will be issued at 2.00 pm ET. The economic analysts are looking for consensus of a deficit of $51 billion, wider than $23.3 billion in December.
Six-month Treasury auction will be held at 11.30 am ET.
In the corporate sector, Loews Corp. (L) reported fourth quarter net income of $481 million or $1.43 per share, up from $290 million or $0.86 per share in the previous year.
Revenue for the quarter climbed to $3.555 billion from $3.338 billion in the prior year.
Asian stocks ended mixed on Monday. Chinese shares rose sharply after taking a beating last week. China's Shanghai Composite index rose 24.27 points or 0.78 percent to 3,154.13, while Hong Kong's Hang Seng index closed lower by 10.20 points or 0.03 percent at 29,497.22.
The Japanese market was closed for the National Foundation Day holiday.
Australian shares closed a tad lower as investors waited for U.S. inflation data due on Wednesday for clues to whether the Federal Reserve will continue raising interest rates.
The benchmark S&P/ASX 200 index ended down 17.30 points or 0.30 percent at 5,820.70, dragged down by financials and energy companies. The broader All Ordinaries index also slid 0.30 percent to close at 5,919.70.
European shares are trading higher. The CAC 40 of France is up 79.69 points or 1.55 percent. DAX of Germany is gaining 222.09 points or 1.83 percent. FTSE 100 of England is gaining 87.11 points or 1.24 percent. Swiss Market Index is adding 142.84 points or 1.65 percent.
Euro Stoxx 50, that provides a Blue-chip representation of supersector leaders in the Eurozone, is currently up 1.58 percent.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com