U.S. stock index futures indicated a higher opening Monday, with reports of a potentially higher bid from J.P. Morgan Chase for Bear Stearns Cos.

News reports on Monday indicated J.P. Morgan was in talks on Sunday night for a deal that would quintuple its offer for Bear Stearns to US$10 a share in an effort to pacify angry Bear shareholders. The talks over a new agreement were first reported by the New York Times.

The Canadian dollar opened at US97.56¢, down 0.15 cent after losing 3.7¢ last week.

There are no major economic releases from Statistics Canada today.

On the U.S. economic front, data on existing-home sales for February are due out at 10:00 ET

In commodities news, oil was down 66¢ at US$101.18 a barrel early Monday and gold declined US$1.30 to US$918.70.

On Wall Street, investors assessed modestly upbeat news about investment bank Bear Stearns. The New York Times said JPMorgan Chase & Co. is considering boosting its offer for Bear Stearns to $10 per share from $2. Just before the $2 offer, which was backed by the Federal Reserve, Bear Stearns stock was valued at $30 per share.

Overseas, stock markets in Asia markets were mixed, as many exchanges closed for Easter Monday.

Japanese stocks were flat on the weakest trading volume this year, slipping 0.02% to 12,480.10.

European markets were mostly shuttered for the Easter holiday.

Financial stocks kept the Toronto Stock Exchange’s benchmark index above the water line Thursday, as gold tanked and the materials group tumbled.

The S&P/TSX composite index closed up 66.26 points, or 0.52%, to finish at 12,775.64.

For the week, the benchmark index slid 3.5% as shares in producers of base metals, oil and gold tumbled.

The junior S&P/TSX Venture composite index closed down 22.66 points, or 0.91%, at 2,462.33.

In New York, U.S. stocks posted broad-based gains.

The Dow Jones industrial gained 261.66 points, or 2.16%, to end at 12,361.32. The S&P 500 gained 31.09 points, or 2.39%, to close at 1,329.51.

As well, the tech-heavy Nasdaq composite index closed up 48.15 points, or 2.18%, at 2,258.11.

For the week, the Dow and S&P 500 rose more than 3%, while the Nasdaq advanced more than 2%.