Stock index futures added to gains on Monday after No. 2 U.S. home improvement chain Lowe's Cos Inc posted stronger-than-expected first-quarter results.

The retailer's report reinforced hopes that the worst effects of the recession may be past.

Shares of Lowe's jumped 12.5 percent to $20.75 before the bell.

S&P 500 futures jumped 4.4 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 climbed 25 points, while Nasdaq 100 futures shot up 7.25 points.

(Reporting by Ellis Mnyandu; editing by Jeffrey Benkoe)