U.S. stock futures moved sharply higher on Monday, mirroring solid gains in Asia where weak data spurred hopes that central banks will launch more easing measures.

Investors were also speculating whether a bottom has been reached after the recent selloff, with some analysts arguing the market is oversold in the short term.

Futures for the Dow Jones Industrial Average jumped 211 points, or 1.3% to 16,123, while those for the S&P 500 index gained 25.70 points, or 1.4%, to 1,884. Futures for the Nasdaq 100 index rose 70.50 points, or 1.8%, to 4,076.50.

Normal trading in the U.S. is closed for the Presidents Day holiday and futures will close for trade at 1 p.m. Eastern Time and open again at 6 p.m. Eastern. Trading in metals and energy futures also ends at 1 p.m.

Source : Marketwatch