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U.S. stock futures were higher early Monday, after a government report showed a larger-than-expected increase in personal income. But investors keep a wary eye on ongoing tensions in Libya.
U.S. stocks closed solidly higher Friday, but fears about Libya and the oil market translated into the worst week for stocks since November.
Despite the recent volatility, stocks are off to a strong start his year. The major indexes are all up nearly 5% so far in 2011.
Economy: A report from the Commerce Department showed that personal income jumped 1%, while spending by individuals rose 0.2% in January.
Economists were looking for personal incomes to rise 0.3%, and the personal spending figure was expected to go up 0.4%.
Later Monday morning, the Chicago purchasing managers index will be released, followed by pending home sales from the National Association of Realtors.
The Chicago PMI is expected to decline slightly to 67.5 from last month's 68.8, and pending home sales are expected to fall 3.2%.
Oil for April delivery slipped 34 cents to $98.22 a barrel.
Gold futures for April delivery rose $4.70 to $1,414.10 an ounce.
The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 3.42% from 3.59% late Friday.
Auction house Sotheby's (BID) will report after the market close.
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