Stocks set for higher start
Trading could be choppy as investors search for indications that economy is turning around.
NEW YORK (CNNMoney.com) -- U.S. stocks were poised for a higher start Monday, but trading could be volatile with no major economic reports on tap to give investors direction.
At 7:20 a.m. ET, Dow Jones industrial average, S&P 500 and Nasdaq-100 futures were slightly higher.
Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.
Investors have pushed stocks higher for the past two months, but the rally hit a wall last week after weaker-than-expected reports on retail sales, housing and weekly jobless claims.
No economic readings are slated for Monday. Peter Cardillo, chief market economist for Avalon Partners, said this could lead to a "choppy mixed session" on Wall Street, without strong catalysts to drive the markets up or down.
Cardillo said the strongest catalyst is coming from India, where stocks soared 17% after election results raised hopes of more political stability. Trading was halted after the surge.
"The prospects of more stability in India and the surge in their stock market could be beneficial to us," said Cardillo. "I think it's a stabilizing factor for the market."
World markets: Besides India, most other Asian markets fell. Stocks in Europe were mixed in midday trading.
Companies: Lowe's (LOW, Fortune 500), one of the largest home improvement retailers, reported a 22% decline in profit for the fiscal first quarter to 32 cents per share. That beat analysts' expectations of 25 cents per share, according to a consensus compiled by Briefing.com. Sales declined by 1.5% to $11.8 billion.
For the second quarter, Lowe's projected an increase in profit, to a range of 51 to 55 cents diluted earnings per share. The company said it plans to open 18 stores in the quarter, after opening 21 during the first quarter.
The retailer's stock rose 10% in pre-market trading.
Money, oil and gas: The dollar rose versus the euro and the yen, but slipped against the British pound.
The price of oil rose 74 cents per barrel to $57.08.
The national average price of a gallon of unleaded gasoline rose to $2.31, its 20th consecutive increase, according to a daily reading released by the motorist group AAA. The price of gas has increased about by 25 cents a gallon in the last three weeks, according to the Lundberg Survey. 
