Stocks set for early gains
Futures advance as investors appear ready to recover from Friday's big selloff; lower oil prices help improve the mood.
LONDON (CNNMoney.com) -- U.S. stock futures rose early Monday as investors recovered from the previous session's brutal selloff and crude prices retreated from record levels.
At 5:10 a.m. ET, Nasdaq and S&P futures were higher and pointing to early gains for Wall Street.
Stocks tanked Friday, with the blue-chip Dow Jones industrial average shedding about 120 points.
But lower crude prices appeared to help lift some of the gloom that was cast over markets last week.
U.S. crude futures edged lower in electronic trading Monday after closing at a record near $126 a barrel on Friday. Oil prices fell as the dollar gained against the euro and the yen.
In major corporate news, Cablevision (CVC, Fortune 500) reportedly is close to buying the Long Island, N.Y., newspaper Newsday from Tribune Co. for $650 million.
In global trade, Japan's Nikkei finished the session higher. European stocks also advanced in morning trading. 
