US Stock Futures Point To Higher Opening Monday

Futures on major U.S. indices point to a higher opening Monday following the agreement by the eurozone finance ministers to lend Spain 100 billion euros ($125 billion).

Futures on the S&P 500 are up 1 percent, and Nasdaq 100 futures are up 1.1 percent. Futures on the Dow Jones Industrial Average are up 1 percent.

Market sentiments will be positive following comments by the eurozone finance ministers Saturday that the Eurogroup supported the efforts of the Spanish authorities to resolutely address the restructuring of its financial sector and country's intention to seek financial assistance from euro area member states.

This bailout agreement should be a support for the market players who were seriously concerned as the rising borrowing costs of Spain were adding to the debt crisis looming over the eurozone.

On Friday, the U.S. markets closed higher as investor confidence was boosted following anticipation that Spain would seek the eurozone aid to bailout its ailing banking system. The Dow Jones industrial average rose 0.80 percent, the S&P 500 Index advanced 0.8 percent, and the Nasdaq Composite Index climbed 1 percent.

All major European indices were in green, as market sentiments improved on the back of the announcement of Spanish bank aid, which was taken as sign of intervention by the policy makers to sort out the economic concerns in the eurozone. London's FTSE 100 rose by 84.99 points, Germany's DAX 30 Index climbed by 117.63 points, and France's CAC 40 advanced by 59.39 points.

Asian markets rose Monday following positive cues globally, which raised investor sentiments. Market sentiments were boosted as China reported a set of data, less worrying than most had feared after the rate cut announced last week. China's exports rose 15.3 percent in May from a year earlier, which is up from 4.9 percent in April. Also, China's inflation rose 3.0 percent in May from a year earlier, which is down from 3.4 percent in April.