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Futures Gain After Sharp Decline; CAT Slips

U.S. stock index futures rose Monday, after logging their worst one-day drop last Friday in almost four months, following positive election results from Spain and a batch of earnings reports.

On the earnings front, Caterpillar posted earnings that topped expectations, but shares slipped after the construction and mining equipment maker reported revenue that was lighter than estimates. The company also cut its full-year guidance.

Also among earnings, Freeport McMoRan gained after the metals and mining company posted earnings and revenue that edged past Wall Street expectations.

And Hasbro posted earnings that beat expectations, but sales fell short of estimates, dragged by a drop in revenue at its boys and pre-school product lines.

Yahoo and Texas Instruments are scheduled to post earnings after the closing bell.

FedEx announced it will hire approximately 20,000 seasonal workers and said it expects 280 million shipments between Thanksgiving and Christmas, a 13-percent increase.

European shares edged higher amid expectations that Spain may be moving closer to seeking a bailout. Meanwhile, Spanish Prime Minister Mariano Rajoy clinched election victory in his home region of Galicia in a result seen as overcoming a hurdle on the path to a formal bailout request.

On the M&A front, Ancestory.com jumped after the genealogy website agreed to be acquired by European private-equity firm Permira in a deal valued at nearly $1.6 billion.

With about two weeks to go before the U.S. presidential election on November 6, President Barack Obama and Republican challenger Mitt Romney will face off in their final televized debate at 9 pm ET. The most recent NBC News/Wall Street Journal poll put the two candidates tied at 47 percent.

—By CNBC's JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)

Coming Up This Week:

MONDAY: Final Presidential Debate; Earnings from Texas Instruments, Yahoo
TUESDAY: Richmond Fed manufacturing index, 2-yr note auction, FOMC meeting begins, Apple event; Earnings from DuPont, 3M, United Technologies, UPS, Coach, Xerox, Amgen, Facebook, Netflix, Gilead Sciences
WEDNESDAY: Weekly mortgage apps, new home sales, FHFA home price index, oil inventories, 5-yr note auction, FOMC mtg announcement; Earnings from AT&T, Boeing, Bristol-Myers, Delta, Eli Lilly, Akamai, Symantec, Zynga
THURSDAY: Durable goods orders, jobless claims, Chicago Fed nat'l activity index, pending home sales, Kansas City Fed survey; Earnings from Altria, AstraZeneca, ConocoPhillips, P&G, Aetna, AutoNation, Credit Suisse, Dow Chemical, Pulte, Sprint, United Continental, Apple, Amazon.com, Coinstar
FRIDAY: GDP, consumer sentiment, Windows 8 released; Earnings from Comcast, Merck

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