NEW YORK (CNN/Money) -
U.S. stocks on Monday looked set to carry on the momentum from last week's rally on Wall Street, although markets overseas were roiled by the earthquake that devastated parts of Asia over the weekend.
Early Monday, stock futures pointed to a rise at the market open.
Oil fell in early trading Monday, primarily due to forecasts of warmer weather in the northeast United States. U.S. crude futures fell $1.04 to $43.14 a barrel in electronic trading; Brent futures weren't traded because of a prolonged holiday in the U.K.
Major Asian markets edged lower Monday as investors reacted to the devastating earthquake and tsunami that killed thousands of people in south and southeast Asia over the weekend. European markets were mostly lower in early trading. The London Stock Exchange is closed Monday and Tuesday.
U.S. stocks ended a holiday shortened week on a positive note. Market activity is expected to remain light this week in the run-up to the new year.
The dollar fell further against the euro but was steady against the yen. Treasury bond prices were lower early Monday.
Retail stocks could garner some attention on Wall Street Monday after the National Retail Federation (NRF) said procrastinators came out in record numbers on Christmas Eve to boost last-minute holiday sales. The NRF said it is standing by its projections for holiday sales to rise 4.5 percent over the same period last year.
It's a light week for economic reports. The Conference Board's consumer confidence index for December, due Tuesday, is expected to rise to 93.5 from 90.5 in November, according to economists surveyed by Briefing.com.
Existing home sales for November, due Wednesday, are forecast at an annual rate of 6.75 million, unchanged from the prior month. The Chicago Purchasing Managers' Index due Thursday is expected to fall to 63 from November's 65.2, a sign of a manufacturing slowdown in the Midwest.
-- from staff and wire reports
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