Stocks likely to witness mild pullback; global cues mixed

Stocks are likely to see some respite on Monday after a turbulent session last week, propped up by worldwide measures to support markets amid the global financial turmoil.

Asian markets were on recovery path Monday after Australia guaranteed bank deposits and European leaders agreed to support lenders in a global effort to end the credit crisis.

Hang Seng rose 0.31 per cent, Straits Times added 0.52 per cent and S&P/ASX climbed 3.68 per cent. Japanese markets are closed for a national holiday.

Wall Street futures indicated a sharp rebound ahead of the opening bell on Monday. Dow Jones Industrial futures rose 235 points, or 2.8 per cent, to 8,605. Standard & Poor's 500 futures jumped 19.25, or 1.50 per cent, at 1,309.00; and Nasdaq-100 futures added 22.10, or 2.48 per cent, at 913.10.