For details of Friday's session, click above.

NEW YORK (CNN/Money) - Investor optimism appears ready to carry over into a new week, with stock markets pointing to a higher open for U.S. stocks Monday, as investors weigh a merger in the ad industry and US Airways' bankruptcy filing.

Early Monday, Nasdaq and S&P futures both showed moderate gains.

Merrill Lynch analyst Khuram Chaudhry in London said the U.S. markets appeared poised to build on strength in Asian and European markets, especially in the technology sectors.

"There is some concern with oil prices lifting up, but in general the corporate news in Asia and Europe is helping markets," he said.

The Dow Jones industrial average and Nasdaq composite index were both higher last week; the Dow was up 0.5 percent while the Nasdaq soared 2.7 percent. The major indexes capped the week with gains Friday, as oil prices back off recent highs and Disney said CEO Michael Eisner would retire in 2006. (see chart for details).

British advertising company WPP Group said Monday it has agreed to buy the American firm Grey Global (GREY: Research, Estimates) for $1.31 billion. The proposed deal will put WPP neck-and-neck with Omnicom in the battle for the top spot in world advertising revenue.

US Air (UAIR: Research, Estimates) filed for Chapter 11 protection Sunday after being unable to reach agreement on cost-cutting measures with its unions. The carrier said it will continue to operate, and that both employees and the companies from which it buys services will continue to be paid.

But some analysts and even the company's chairman have suggested that finding the financing and investors needed to emerge from bankruptcy for the second time in two years will be difficult, and the carrier could be flying towards eventual liquidation.

The company's shares closed Friday at $1.46, down more than 16 percent. Shares plunged 71 cents, or about 49 percent, to 75 cents in pre-market trading on the INET electronic brokerage early Monday. A spokeswoman for Nasdaq, where the shares are traded, said the stock is expected to open for trading Monday.

Oil prices rose on concerns about Hurricane Ivan's impact on Gulf of Mexico production and the continuing violence in Iraq. U.S. crude futures rose 53 cents to $43.34 a barrel in electronic trading, while Brent oil futures rallied 23 cents to $40.43 a barrel in London.

Asian-Pacific stocks rallied Monday, with Tokyo's Nikkei index up 1.5 percent. European markets rose in early trading. (Check the latest on world markets)

Among the top gainers in Europe was German drug and chemical company Bayer (BAY: Research, Estimates) , which announced an alliance with U.S. drugmaker Schering-Plough (SGP: Research, Estimates) for its struggling pharmaceuticals business.

Among U.S. stocks trading in Europe, Time Warner (TWX: Research, Estimates) was slightly higher. The media company, parent of CNN/Money, is reported by the Wall Street Journal to have told MGM (MGM: Research, Estimates) it will pull out of the bidding for the movie maker if it doesn't accept its offer in the next few days.

The same report said Sony (SNE: Research, Estimates) has raised its offer for MGM.

Treasury prices were little changed, with the 10-year note yield at 4.18 percent. The dollar rose against the yen and euro. Gold was lower.