The Conference Board releases its employment trend index for January at 10 a.m. ET. In the previous report, the index read 104.3.

General Motors (GM.N) aims to raise its profit margin to 10 percent over the next few years, up from the current margin of about 6 percent, Daniel Ammann, chief financial officer, told the Wall Street Journal in an interview.

On the earnings front, profit at Yum Brands (YUM.N) is expected to rise to 74 cents per share, from 63 cents per share, in the restaurants operator's quarterly report.

Other U.S. companies reporting results include Hasbro (HAS.O), Humana (HUM.N), Pioneer Natural Resources (PXD.N), Dun and Bradstreet Corp (DNB.N) and Anadarko (APC.N).

NYSE Euronext (NYX.N) plans to focus on smaller deals and returning capital to its shareholders after its failed $7.4 billion merger with Deutsche Boerse, the company's chief executive said on Friday.

Rockwood Holdings Inc (ROC.N) announced major expansion to double its lithium production capacity.

U.S. Federal Reserve Bank of St. Louis President James Bullard speaks at 11 a.m. ET on "Inflation Targeting in the U.S." before the Union League Club of Chicago.

European shares .FTEU3 fell 0.5 percent after hitting six-month highs in the previous session, with investors worried about whether Greece can avoid a messy default.

Greece's coalition parties must tell the European Union on Monday whether they accept the painful terms of a new bailout deal as EU patience wears thin with political dithering in Athens over implementing reforms.

Japan's Nikkei average .N225 rose 1.1 percent to close at a three-month high on Monday.

A surge in hiring in the world's largest economy last month drove the Nasdaq to an 11-year high on Friday as optimism grew that the labor market is on a steady path to recovery.

The Dow Jones industrial average .DJI gained 156.82 points, or 1.23 percent, to 12,862.23. The Standard & Poor's 500 Index .SPX rose 19.36 points, or 1.46 percent, to 1,344.90. The Nasdaq Composite Index .IXIC added 45.98 points, or 1.61 percent, to 2,905.66.

(Reporting by Atul Prakash; Editing by Erica Billingham)

• A Permanent Economic Emergency