NEW YORK (CNNMoney.com) -- Stocks were set to keep rolling higher Monday, fueled by a merger agreement between oil services companies Schlumberger and Smith International.
Dow Jones industrial average, S&P 500 futures and Nasdaq 100 futures gained ground.
Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.
"We're really focused on the fact that M&A activity keeps the investors excited," said Art Hogan, chief market strategist at Jefferies & Co, referring to the stock-for-stock deal between Schlumberger and Smith International.
U.S. stocks rose for a fourth straight session on Friday, as investors saw signs of economic normalcy in the Federal Reserve's decision to raise the interest rate it charges banks for emergency loans.
But trading could be volatile this week amid ongoing worries about the outlook for the U.S. economy, the debt situation in Greece and the pace of growth in China.
Companies: Schlumberger (SLB) and Smith International (SII, Fortune 500) announced early Monday that their boards of directors approved a merger agreement between the two oil services companies. The stock-swap transaction values the deal at $11 billion, based on Friday's closing prices.
Economy: The latest survey from the National Association of Business Economics showed that leading economists believe the U.S. recovery will remain firmly on track.
Health care: President Obama will propose legislation that would allow the government to block excessive rate hikes by health insurers, an official told CNN.
Credit card rules: New restrictions on credit card practices go into effect Monday. The new rules will make it harder for card issuers to raise interest rates on accounts which are paid on time.
World markets: European shares were mixed in morning trading. Britain's FTSE 100 and France's CAC 40 were a tad higher, while Germany's DAX edged lower.
Stocks in Asia rallied. Japan's Nikkei finished the session 2.7% higher and the Hang Seng in Hong Kong climbed 2.4%.
Cash and bonds: The dollar rose against the euro and fell versus the yen and the pound. The price of the 10-year note rose, pushing down the yield to 3.77%.
Gold and oil: The price of gold rose $2.90 per ounce to $1,124.20 per ounce. The price of oil was practically unchanged, edging up 1 cent to $79.82 per barrel. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.80% | |
| 15 yr fixed | 3.09% | 3.11% | |
| 5/1 ARM | 2.65% | 2.69% | |
| 30 yr refi | 3.77% | 3.86% | |
| 15 yr refi | 3.09% | 3.21% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,454.83 | -74.92 | -0.60% |
| Nasdaq | 2,837.53 | -1.85 | -0.07% |
| S&P 500 | 1,317.82 | -2.86 | -0.22% |
| Treasuries | 1.74 | -0.01 | -0.80% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.15 | 0.01 | 0.14% |
| Sprint Nextel Corp | 2.62 | 0.09 | 3.56% |
| Cisco Systems Inc | 16.33 | -0.06 | -0.37% |
| Chesapeake Energy Co... | 15.81 | 0.23 | 1.48% |
| Ford Motor Co | 10.60 | 0.01 | 0.09% |
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