Futures on major U.S. indices point to higher opening on Monday as investors welcomed the European Union’s 85 billion euro ($113 billion) financial assistance package for Ireland.

Futures on the S&P 500 are up 0.56 percent, futures on the Dow Jones Industrial Average are up 0.53 percent and Nasdaq100 futures are up 0.41 percent.

The European Union finance ministers agreed on an 85 billion euro rescue for Ireland on Sunday and outlined a permanent system to resolve Europe's debt crisis, in which investors could share the cost of any future default.

The Irish government said 35 billion euros will go into propping up the Republic's banking system, of which 10 billion will be made available for immediate recapitalization, while the remaining 50 billion euros will cover the country's budget needs.

Retailers’ stocks will be on focus as sales for the Black Friday weekend in the United States rose an estimated 6.4 percent per person, according to a survey by the National Retail Federation.

The U.S. online retail sector delivered double digit growth on Black Friday 2010 compared with the year-ago levels, according to a report from IBM.

On the economic front, no major data is due to be released on Monday but the week is fully loaded with heavy weight fundamentals including the jobs report.

On Friday, US stocks tumbled in a holiday-shortened session on worries over threats of war by North Korea and pervasive fears that the euro zone sovereign debt crisis may spread to Spain and Portugal.

The euro declined 0.13 percent to 1.3224 against the dollar and the yen gained 0.11 percent against the greenback.

Crude oil futures advanced 0.92 percent to $84.53/barrel and gold futures advanced 0.12 percent.

European stock markets are currently trading mixed with FTSE100 up by 12.69 points, DAX30 down by 27.34 points and CAC 40 down by 5.53 points.