Stocks: Surging oil dominates sentiment

NEW YORK (CNNMoney) -- U.S. stocks were headed for a flat open Monday, with trading expected to be volatile as oil prices above $106 a barrel and gold prices at a new intraday record will likely keep investors on edge.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were mixed ahead of the opening bell. Futures measure current index values against perceived future performance.

U.S. stocks fell sharply Friday, as investors dismissed the jobs data and focused on oil prices surging over $104 a barrel. Stocks still managed to scratch out gains for the week, with the Dow rising 0.3%, and the S&P and Nasdaq rising 0.1% each.

Oil prices will remain in focus Monday, with crude rising above $106 a barrel in electronic trading.

Companies: Western Digital's (WDC, Fortune 500) stock rose 5% in premarket trading after the company agreed to acquire Hitachi's hard disk drive business. The stock and cash transaction is valued at $4.3 billion.

World markets: Analysts at Moody's slashed Greece's credit rating three notches Monday to B1. The ratings agency also issued a negative outlook for the nation, which has struggled to implement austerity measures aimed at reducing a massive debt load.

"The country's very large debt burden and the significant implementation risks in its structural reform package both skew risks to the downside," wrote Moody's, in its report.

European stocks were mixed in afternoon trading. Britain's FTSE 100 rose 0.4%, while France's CAC 40 slipped 0.1% and the DAX in Germany was up 0.3%.

Asian markets ended mixed. The Shanghai Composite jumped 1.8%, while the Hang Seng in Hong Kong slid 0.4% and Japan's Nikkei tumbled 1.8%.

Economy: On Monday afternoon, the Federal Reserve will release a report on consumer credit. Economists surveyed by Briefing.com expect consumer credit to have increased by $3.3 billion in January, down from December's $6.1 billion climb.

Currencies and commodities: The dollar fell against the euro, the Japanese yen and the British pound.

Gold for April delivery gained $16.40 to a new intraday record of $1,445 an ounce before slipping to $1,444.70.

But the precious metal remains miles away from its true peak, when adjusted for inflation. Gold hit its real record on Jan. 21, 1980, when it rose to $825.50 an ounce. Adjusted for inflation from 1980 dollars to 2011, that translates to an all-time record of $2,206.24 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 3.52% from 3.55% late Friday.