NEW YORK (Reuters) - Stock index futures pointed to a slightly higher open on Wall Street on Monday, with futures for the S&P 500 up 0.61 percent, Dow Jones futures up 0.55 percent and Nasdaq 100 futures up 0.73 percent at 3:44 a.m. EDT.
European shares gained ground in early trade on Monday, with defensive sectors such as pharma, telecom and utilities leading the tentative rally following last week's sharp losses.
Oil lost ground, hit by nagging concerns over the economic outlook and on the prospect of a restart of Libyan oil flow into the market as the country's six-month civil war appeared close to an end, with rebel fighters sweeping into the heart of Tripoli and Muammar Gaddafi's forces collapsing.
Spot gold surged more than 1 percent to a third consecutive all-time high on Monday, as investors fled to the safety of bullion amid fears of another U.S. recession and the euro zone's debt crisis.
Efforts to reach a settlement regarding faulty mortgage foreclosure processes have hit a snag as bank executives and U.S. officials debate whether banks should get broad legal protection from state officials for mortgage-related claims, the Wall Street Journal reported on Monday.
About 45,000 striking Verizon Communications
Wall Street ended a fourth week of losses on a down note on Friday as most buyers left the market before the weekend on growing fears of another U.S. recession and destabilization in Europe's financial system.
The Dow Jones industrial average <.DJI> fell 172.93 points, or 1.57 percent, to end at 10,817.65. The Standard & Poor's 500 Index <.SPX> dropped 17.12 points, or 1.50 percent, to 1,123.53. The Nasdaq Composite Index <.IXIC> slid 38.59 points, or 1.62 percent, to close at 2,341.84.
(Reporting by Blaise Robinson; Editing by Hans-Juergen Peters)
