U.S. stock index futures rose on Monday as Abu Dhabi moved to bail out neighboring Dubai, winding down fears of a potential default that had rattled markets, and as Citigroup Inc reached a deal to pay back U.S. government funds.
Abu Dhabi's aid, worth $10 billion, included $4.1 billion for an Islamic bond maturing on Monday. But Dubai said Dubai World creditors still needed to approve a standstill on outstanding debt.
S&P 500 futures rose 5.5 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 56 points and Nasdaq 100 futures added 8.5 points.
Crude futures fell for a ninth straight session but pared losses to trade at about $69.24 a barrel after the Dubai news.
Britain's Cadbury Plc
European Union regulators signaled they could clear Oracle Corp's
The Dow and S&P 500 closed up for a third straight session on Friday after several solid consumer-related reports reinforced investors' confidence in a steady economic recovery.
(Reporting by Rodrigo Campos; Editing by Padraic Cassidy)