Stock futures signal gains, automakers eyed

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(Reuters) - Stocks pointed to a higher open on Monday, reversing some of the sharp losses endured on Friday when dismal monthly retail sales triggered a sell-off. At 5:18 a.m. EST, S&P 500 futures were up 0.1 percent, Dow Jones futures were up 0.1 percent and Nasdaq 100 futures were up 1 percent.

Highlights:

* Leaders of the world's 20 largest economies, meeting in Washington over the weekend, agreed on a host of steps to rescue the global economy, but they left it to individual governments to tailor their response to their own circumstances and troubled industries.

* Japan's Nikkei average gained 0.7 percent on Monday, as bargain hunters brushed aside data showing the world's second-biggest economy had slipped into recession, while European stocks were down in morning trade, with banks and automakers among the biggest losers.

* Liquidity issues facing GM, Ford and Chrysler will keep talk of mergers alliances and bailouts bubbling on Monday. General Motors Corp Chief Executive Rick Wagoner said on Sunday U.S. auto industry bankruptcies would have a devastating impact on the domestic economy, many times larger than the aid automakers seek.

* Separately, GM said it would sell back its 3 percent stake in Suzuki Motor Corp <7269.T> for $232 million as the struggling automaker seeks to raise cash.

* U.S. stocks tumbled on Friday, with the Dow Jones industrial average <.DJI> dropping 3.8 percent, the S&P 500 Index <.SPX> falling 4.2 percent and the Nasdaq Composite Index <.IXIC> losing 5 percent, after a record drop in monthly retail sales heightened worries that U.S. consumers' reluctance to spend would drag the economy into an even deeper downturn than initially expected.

* Fidelity Investments, the world's biggest mutual fund company, told employees on Friday it would cut a further 1,700 jobs on top of 1,300 already announced. Boston-based Fidelity had laid off 1,300 people on Wednesday in a first round of cuts. With these two rounds, the company is shedding about 7 percent of its staff.

* Billionaire Warren Buffett's Berkshire Hathaway Inc said on Friday it has nearly quintupled its holdings in oil company ConocoPhillips , and taken a new stake in hydraulics manufacturer Eaton Corp .

* Belgium's InBev NV cleared the last hurdle to buying Anheuser-Busch Cos Inc , creating the world's largest brewer, when it gained U.S. antitrust approval for the $52 billion deal after agreeing to sell its Labatt USA subsidiary.

* Earnings reports on Monday include Lowe's and Target , while economic indicators on tap for Monday include industrial production and the Empire State survey.

(Reporting by Blaise Robinson, editing by Will Waterman)

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