U.S. stock markets were poised for a strong start on Monday amid hopes of progress on talks to avert a debt default in Greece.
The Eurogroup of euro zone finance ministers concluded a meeting in Brussels on Monday and will meet again later in the week on the Greek debt crisis, EU Vice President Valdis Dombrovskis said in a Reuters report.
The European Union on Monday welcomed new proposals from Athens as a "good basis for progress." Greece and its global creditors hope to secure an eleventh-hour deal to pull the cash-strapped country back from brink of bankruptcy.
Optimism about a deal on Greece set the tone for global stock markets – European shares soared in early trade, with stock markets in Germany and France more than 2 percent higher.
U.S. equity futures were stronger across the board, with the Dow Jones industrial average index futures jumping more than 100 points.
"Once again, all eyes will be on Greece on Monday and whether it can come to an agreement with its creditors and avoid a default and possible messy exit from the euro zone," Craig Erlam, senior market analyst at currency trading firm OANDA.