Dow Jones futures traded 0.7 percent higher by 5:45 a.m. EDT on Monday while S&P 500 futures rose 1.1 percent and Nasdaq futures gained 0.6 percent, pointing to a higher opening on Wall Street.

Key economic data include the New York Fed's Empire State Manufacturing Survey for March at 8:30 a.m. EDT, February industrial production and capacity utilization at 9:15 a.m. EDT, and the NAHB March Housing Market Index at 1 p.m. EDT.

No S&P 500 companies are scheduled to report results.

Asian shares rallied overnight and European stock markets were up around 2 percent in Monday morning trade, led by financials.

(Reporting by Peter Starck; editing by Simon Jessop)