Stock futures up 1 percent on reports of bad assets plan

U.S. stock futures rose 1 percent on Monday after detailed reports about the White House plan to rid banks of $1 trillion of toxic assets made investors more tolerant of risk.

S&P 500 futures climbed 1 percent, Dow futures rose 0.9 percent and Nasdaq futures added 0.4 percent.

U.S. Treasury Secretary Timothy Geithner was expected to provide details on the public-private partnership to remove bad loans from the banking system later on Monday, though investors were already lifting equities and selling yen, growing hopeful for risk-taking to achieve higher returns.

(Reporting by Kevin Plumberg, Editing by Muralikumar Anantharaman)