NEW YORK (MarketWatch) -- U.S. stock futures moved higher on Monday, pointing to opening gains on Wall Street, as investors were heartened by China's cutting its key lending rate, following rate cuts last week by the Federal Reserve and the Bank of Japan. "China's latest rate cuts helped metals producers like Alcoa, while insurer AIG bounced after selling off its stake in Hartford Steam Boiler for $742 million," said analysts at Action Economics. Dow Jones Industrial Average futures rose 17 points to 8,550. Nasdaq 100 futures advanced 2.5 points to 1,213.5, while S&P 500 futures rose 2.6 points to 883.9. Earlier, stock futures had pointed to a lower start on Wall Street. "With volumes thinning even further this week we could be in store for a volatile but scrappy few days of trading," said Ian Griffiths, trader at CMC Markets. On Friday, U.S. stocks pulled mostly higher for another week after the White House stepped in to rescue automakers. The Dow Jones Industrial Average closed at 8,579.11, off 25.88 points, or 0.3%, to finish the week down 0.3%. The S&P 500 advanced 2.32 points, or 0.3%, to end at 887.6, up 0.9% from a week ago. The Nasdaq Composite rose 11.95 points, or 0.8%, to 1,564.32, giving it a 1.5% weekly gain. Autos are expected to be a focus again after Toyota Motor Corp. forecast an operating loss for the current year, the first in the automaker's history since the Second World War. Toyota blamed a slump in the global automobile market and a sharp appreciation in the Japanese yen against major currencies. See full story. Property developers are also likely to be in the spotlight after a report in the Wall Street Journal that some of the nation's biggest property developers are asking the government for assistance as a record amount of commercial real-estate debt comes due. Walgreen Co. said its first-quarter profit dropped to $408 million, or 41 cents a share, from $456 million, or 46 cents a share, in the year-earlier period. Sales rose 6.6% to $14.9 billion with comparable-store sales increasing 1.7%. Analysts, on average, estimated the company would earn 46 cents a share on sales of $15.03 billion, according to FactSet. Recruitment firm Manpower Inc. withdrew its fourth-quarter revenue and earnings guidance due to continued declines in global labor markets foreign currency movements. American International Group said it will sell its HSB Group unit to Munich Re for $742 million. Munich Re will assume $76 million of outstanding capital securities. Wal-Mart Stores said late Friday that it's launching a bid to take over Chilean retailer Distribucion y Servicio D&S SA for almost 41 cents a share. Wal-Mart would pay $2.8 billion if all shares were tendered. Infineon Technologies Europe's second-largest maker of semiconductors, said its majority-owned unit Qimonda received a $456 million loan during the weekend. See full story. Gold futures rose, following their 2% gain in the last week, as buying of the metal as a safe haven continued. Gold for February delivery was last up $11.10, or 1.3%, at $848.50 an ounce on the New York Mercantile Exchange. Treasurys declined, sending yields higher for a second day, before the government auctions a record amount of short-term securities. Two-year note yields climbed 4 basis points to 0.78%. In international markets, Japan's Nikkei 225 Average rose 1.6%, while the U.K.'s FTSE 100 index put in a flattish performance. See Asia Markets. See Europe Markets.

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