NEW YORK (CNN/Money) - Tech stocks appeared ready to lead U.S. stocks higher at Monday's open as such developments as a report of Cisco Systems' possible interest in cell phone maker Nokia greeted investors.

U.S. stock futures were up, indicating a higher opening for stocks.

Britain's Business newspaper reported Monday that Cisco (Research) is mulling a bid for the world's largest maker of cell phones, although a Nokia (Research) spokesman referred to the report as "pure fabrication." Nevertheless, the report drove major European markets higher in early trading.

Stock futures were higher despite oil prices hitting a new record in electronic trading Monday after the United States closed its embassy in Saudi Arabia due to the threat of terrorism.

The September light crude futures contract for NYMEX gained 38 cents to $62.69 a barrel, while the September contract for Brent crude rose 42 cents to $61.49.

Major markets in Asia closed mixed Monday, with stocks in Tokyo gaining ground despite the dissolution of Japan's parliament after Prime Minister Junichiro Koizumi's postal privatization measure failed to gain approval.

Treasury prices were little changed, leaving the yield on the 10-year note at 4.39 percent. The dollar lost ground against the euro and the yen.

For a more detailed look at the markets before the open, click here.