Futures Extend Gains After Retail Sales Report

U.S stock index futures added to gains Monday following data that showed retail sales gained last month and after a benign inflation report from China which suggested scope for further monetary easing measures.

On the economic front, retail sales rose 1.1 percent in September, according to the Commerce Department.

Meanwhile, a gauge of manufacturing in New York state rose to minus 6.16, contracting for the third-straight month, according to the New York Federal Reserve. Economists polled by Reuters had expected a reading of minus 4.55.

European shares were higher after German Finance Minister Wolfgang Schauble said Greece would not default, but warned that if it exited the euro zone it would be damaging for Greece as well as the whole area.

Also boosting sentiment, data out over the weekend showed China's consumer price inflation eased in September, while producer prices dropped from a year earlier. In addition, a separate report showed showed export growth had rebounded to nearly twice the rate expected in September.

On the earnings front, Citigroup posted earnings and revenue that topped analysts' expectations.

Other major financials such as Goldman Sachs and Bank of America are scheduled to report later in the week.

Over the weekend, Japan's Softbank said it will acquire a 70 percent stake in Sprint for about $20 billion, sending shares higher. Clearwire, which is largely owned by Sprint, soared more than 10 percent.

At 10 a.m., the Commerce Department will release August business inventories, which economists polled by Reuters see rising 0.5 percent, following July's 0.8 percent increase.

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

Coming Up This Week:

MONDAY: Business inventories, credit card default rates reported
TUESDAY: CPI, Treasury int'l capital, industrial production, housing market index, News Corp shareholders mtg, Target media day, 2nd Presidential Debate; Earnings from Coca-Cola, Goldman Sachs, J&J, United Health, Mattel, PNC Financial, State Street, IBM, Intel, CSX
WEDNESDAY: Weekly mortgage apps, housing starts, oil inventories; Earnings from BofA, PepsiCo, Bank of NY Mellon, Blackrock, Northern Trust, US Bancorp, AmEx, Ebay
THURSDAY: Jobless claims, Philadelphia Fed survey, leading indicators; Earnings from Morgan Stanley, Phillip Morris, Travelers, Union Pacific, Verizon, Fifth Third, Huntington Bancshares, KeyCorp, Nokia, Google, Microsoft, AMD, Capital One, Chipotle, E-Trade
FRIDAY: Existing home sales; Earnings from GE, McDonald's, Schlumberger, Honeywell, Edward Lifesciences

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