* Fed interest rate meeting in focus * Uncertainty over automakers aid remains * Honeywell says profit to decline next year * For up-to-the-minute market news, please click on [STXNEWS/US] By Leah Schnurr NEW YORK, Dec 15 (Reuters) - U.S. stocks were set for a higher open on Monday as investors bet on more U.S. interest rate cuts as part of an aggressive campaign to stimulate growth, while uncertainty over aid for automakers lingered. The U.S. Federal Reserve is expected to cut interest rates this week at a regularly scheduled monetary policy meeting in an effort to push more money into the sputtering U.S. economy. In the latest news on efforts to secure government aid for ailing U.S. automakers, U.S. President George W. Bush said an announcement on a rescue for the struggling industry was not imminent, highlighting continuing uncertainty over its fate. For details see [ID:nN14461208]. Lawmakers over the weekend said they expect the White House to act soon to head off a potential collapse in the industry. An attempt to offer the three big Detroit automakers a financial lifeline failed to get past the Senate last week, but on Friday the White House said it could be willing to provide emergency funding. "The market is expecting a bailout. Whether or not it happens this week or early next week, I think it's already in the marketplace," said Peter Cardillo, chief market economist at Avalon Partners in New York. "If the market manages to move a bit higher in the first few days of the week, then we could probably see the year-end rally stay in tact." S&P 500 futures SPc2 were off 3 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures DJc2 was down 18 points, and Nasdaq 100 NDc2 futures were up 0.50 point. General Motors (GM.N: Quote, Profile, Research, Stock Buzz), Ford (F.N: Quote, Profile, Research, Stock Buzz) and Chrysler employ nearly 250,000 people directly and 100,000 more jobs at parts suppliers could depend on their survival. The industry fears the failure of one Detroit manufacturer could drag down the other two, while massive job losses could exacerbate the economic slowdown. Shares of Ford were up 3 percent at $3.13, while GM rose 4.3 percent to $4.3 in pre-market trading.

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