Before the bell: Stocks to surge on Big 3 bailout, Obama's stimulus plans

U.S. stock futures were much higher early Friday morning, indicating stock markets might continue Friday's rally. Investors are encouraged by the progress made to put forth a bailout plan for the Big Three automakers and from President-elect Barack Obama's stimulus plan that includes massive new infrastructure investment, energy programs, and school construction projects.

Overseas, European and Asian stock markets surged Monday, following Wall Street's Friday rally and as they approved of growth-promoting measures around the world. Crude-oil prices bounced off four-year lows to above $43 a barrel Monday. OPEC's president said that while no decision on a production cut had been reached, it would be "severe."

No economic data is on the docket for today.