Before the Bell: Futures Advance to Signal Higher Open

While stocks ended higher Friday, they were largely weaker last week as concerns grew over the recovery with the Federal Reserve announcing the of several emergency programs that ensured liquidity.

Overseas, Asian markets finished mixed. Japan's exports fell by the smallest amount in 14 months in November, alleviating concerns Japan might slip into another recession. European stock markets rose modestly Monday, following Wall Street's late Friday rally. But already, it seems, the holiday started in many places and volumes were smaller.

Meanwhile, the Obama-backed health care legislation passed its toughest Senate test in the early hours on Monday, overcoming Republican delaying tactics on a 60-40 vote. The bill, which would extend coverage to more than 30 million Americans, while banning certain insurance company practices, is now all but certain to pass by Christmas. The health care sector, as well as insurers, may be in focus today.

Retail, too, can find itself in the spotlight after the East Coast snowstorm over the weekend. With malls closed and snowed in shoppers, retailers in the area hurt, but elsewhere in the country stores saw a strong turnout on the last weekend before Christmas.

Oil prices hovered above $73 a barrel Monday ahead of an OPEC meeting Tuesday where investors expect the cartel to keep production levels unchanged. OPEC's secretary general said Monday there is consensus to maintain the cartel's production targets into 2010, indicating the group plans to hold output steady when it meets in the Angolan capital.