Wall Street was set to rise at the open on Monday, adding to two weeks of gains, as a decline in the U.S. dollar helped lift commodity prices and boost natural resource stocks while data showed consumers spent more than expected in October.

U.S. retail sales were up 1.4 percent in October as motor vehicle purchases surged, a welcome sign heading into the holiday season, though a separate report showing manufacturing in New York State fell in November.

Metal prices advanced on a weaker dollar and stronger-than-expected economic growth in Japan. Shares of mining companies rose in premarket trade, led by Freeport McMoRan Copper & Gold Inc , up 2.7 percent to 83.75, and Newmont Mining Corp , adding 1.6 percent to $51.79.

The data is good, and what it demonstrates is that ... the environment is starting to improve, said Joseph Battipaglia, market strategist at Stifel Nicolaus in Yardley, Pennsylvania. Softening credit conditions are somewhat helping the retail sector.

S&P 500 futures gained 8 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 rose 57 points, and Nasdaq 100 futures added 7.75 points.

Lowe's Cos Inc lost 1 percent to $21.65 premarket after the second-largest U.S. home improvement chain posted a 30 percent decline in quarterly profit and forecast a slide in same-store sales in the current quarter.

Meanwhile, Goldman Sachs raised Nordstrom Inc to buy, but cut JC Penney Co Inc to sell. Penney's shares fell 1.8 percent to $30.65 premarket trade, while Nordstrom rose 2.9 percent to $34.98.

The dollar fell 0.4 percent against a basket of currencies, while gold touched a fresh high above $1,130 an ounce in Europe.

Federal Reserve Chairman Ben Bernanke will speak on economic conditions in an address to the Economic Club of New York at 12:15 p.m. EST (1715 GMT). Investors are keen for signs when the Fed will remove stimulus measures from the economy and how long interest rates will remain near zero percent.

(Reporting by Edward Krudy; editing by Jeffrey Benkoe)