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* Futures surged to a session high after MNSI
reported the EU commission will propose the 6-month extension,
citing sources.
* The European Commission said earlier it had low expectations
that meetings of euro zone finance ministers and EU leaders this
week would produce a final agreement on Greece, which wants a
debt restructuring.
* After a sluggish start to the year that saw the S&P 500 drop
3.1 percent in January, the index managed to notch its best gain
in seven weeks last week on a rebound in oil prices. The S&P
stands 2.1 percent away from its record closing high on Dec. 29.
* Coca-Cola Co shares climbed 2.5 percent to $42.25 before the
opening bell, even as the soft drinks maker reported a 55
percent decline in quarterly profit as a stronger dollar hurt
revenue from international markets.
* Starwood Hotels & Resorts Worldwide Inc rose 6.4 percent
to $75.80 premarket after the company posted quarterly results
and announced plans to spin off its vacation ownership business.
* Even with some high-profile earnings misses from
multinationals, largely as a result of dollar strength, Thomson
Reuters data through Monday morning showed that 72.6 percent of
the 328 S&P 500 companies reporting beat earnings expectations,
above the 69 percent beat rate in the past four quarters.
* Economic data expected on Tuesday include December wholesale
trade at 10 a.m. EST. Expectations call for inventories to rise
by 0.2 percent while sales are expected to decline by 0.3
percent.
* European shares hit session highs after the Greek extension
report, while Asian equities were lower across the board as
fears about Greece and escalating conflict in Ukraine sapped
risk appetite.
Futures snapshot at 7:32 a.m. EST:
* S&P 500 e-minis were up 12.25 points, or 0.6 percent, with
131,170 contracts changing hands.
* Nasdaq 100 e-minis rose 26.25 points, or 0.62 percent, on
volume of 22,734 contracts.
* Dow e-minis jumped 100 points, or 0.57 percent, with 18,293
contracts changing hands.
(Reporting by Chuck Mikolajczak; Editing by Jeffrey Benkoe)
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