Wall Street set for mixed open

Futures on major U.S. stock indices point to a mixed opening on Monday, after indices recorded a second straight week of gains on Friday.

Futures on the S&P 500 are down 0.11 percent, futures on the Dow Jones Industrial Average are up 0.05 percent and Nasdaq100 futures are down 0.01 percent.

On Friday, U.S. stocks rallied after Hosni Mubarak resigned as president of Egypt and the Obama administration announced plans to dissolve Fannie Mae and Freddie Mac. The S&P 500 closed last week at the highest level since June 2008.

Japan officially confirmed on Monday that it lost its rank as the world's second largest economy to China in 2010. Official data released by Japan indicated that fall in the overall spending and a strong yen facilitated a contraction during the last quarter of the fiscal year.

On the earnings front, Agilent Technologies, Fmc Technologies, Marriott International and Masco are due to report their quarterly earnings during the day.

The euro declined 0.73 percent to 1.3456 against the dollar and the yen gained 0.08 percent against the greenback.

Crude oil futures declined 0.02 percent to $85.56/barrel and gold futures fell 0.26 percent.

European stock markets are currently trading mixed with FTSE 100 down by 1.94 points, DAX30 up by 29.21 points and CAC 40 up by 1.60 points.