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Dow futures rise 100 points after Bullard remarks

U.S. stocks were set for a higher start on Monday after St. Louis Federal Reserve President James Bullard said he would have dissented on the central bank's decision to hold rates low.

"There's a powerful case to be made that it's time to raise interest rates," he told CNBC's "Squawk Box" in an interview.

Other Fed speakers this week include Atlanta Fed President Dennis Lockhart and Fed Chair Janet Yellen.

Wall Street shares closed sharply lower on Friday as investors assessed the implications of the Fed's decision to keep interest rates at record low levels for a little longer.

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

That sell-off weighed on Asian stocks, which closed broadly lower on Monday with the exception of shares in Shanghai, which ended the day almost 2 percent higher. European shares turned higher after opening the week mixed, with the STOXX Europe 600 up 1.2 percent.

Against this backdrop, U.S. stock futures were mixed before turning higher, with Dow Jones futures briefly rising about 100 points.

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Oil prices also held higher, with crude and brent both jumping more than 2 percent.

The U.S. dollar also traded more than half a percent higher against major world currencies.

August existing home sales data is due out at 10:00 a.m. ET.

Elsewhere, there was some focus on Greece following an election on Sunday. Alexis Tsipras' left-wing Syriza party returned to power with an unexpected election win, with a mandate to implement a bailout plan.

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Tech giant Apple meanwhile said on Sunday that it was cleaning up its iOS App Store to remove malicious programs on the iPhone and iPad found in the first large-scale attack on the mobile software store.