U.S. stock index futures pointed to a higher open on Wall Street on Monday for the first session of the year, with futures for the S&P 500 up 0.7 percent, Dow Jones futures up 0.6 percent and Nasdaq 100 futures up 1 percent at 4.15 a.m. ET.
Eye care group Alcon (ACL.N) will be in the spotlight after Switzerland's Novartis (NOVN.VX) said it plans to get full control of it for a total $39.3 billion after agreeing to acquire a majority stake from Nestle (NESN.VX).
U.S. Federal Reserve Chairman Ben Bernanke said on Sunday that vigorous financial regulation would have been the best way to restrain the housing bubble that helped cause the deep recession, but said policy makers can no longer rule out monetary policy to curb the buildup of risk.
Airline stocks will be in focus after Japan Airlines Corp (9205.T) shares jumped 31 percent in Tokyo on Monday as the Japanese government looked to secure funds to prevent the carrier from running out of cash as it awaits a possible bailout.
The dollar edged down from a four-month high against the yen but climbed against other majors on Monday, the first trading day of 2010, as investors focus on U.S. data this week that could add to optimism about the economy.
Oil rose to $80 a barrel amid thin trading volumes, partly supported by news that Russia had halted oil supplies to Belarussian refineries.
Japan's Nikkei average (.N225) hit a 15-month closing high on Monday, with a weaker yen lifting exporters such as Kyocera Corp (6971.T), while European stocks were up 0.7 in morning trade, with drugmakers such as GlaxoSmithKline (GSK.L) and AstraZeneca (AZN.L) rising after Novartis's move on Alcon fueled consolidation hopes in the sector.
On the macro front, investors awaited data on construction spending and ISM manufacturing PMI, both due at 1500 GMT, seeking insight on the outlook for the economy.
U.S. stocks fell on Thursday in their last session of the year, with a late-day sell-off dragging all three major indexes down about 1 percent as investors booked profits on some of the year's best-performing stocks.
The Dow Jones industrial average (.DJI) ended down 120.46 points, or 1.14 percent, at 10,428.05. The Standard & Poor's 500 Index (.SPX) slid 11.32 points, or 1.00 percent, at 1,115.10. The Nasdaq Composite Index (.IXIC) lost 22.13 points, or 0.97 percent, to close at 2,269.15.
For 2009, the Dow gained 19 percent, the S&P rose 24 percent and the Nasdaq added 44 percent.
