Futures Up as G-20 Vows No Currency War

Stock futures were pointing to a stronger open Monday after finance ministers from the Group of 20 agreed to avoid competitive currency dilution.
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NEW YORK (

TheStreet

) -- Stock futures pointed to a stronger open Monday as finance ministers from the Group of 20 agreed to

limit competitive currency dilution to help stabilize global trade.

Futures for the

Dow Jones Industrial Average

were up by 47 points, or 55 points above fair value, at 11,137. Futures for the

S&P 500

were up by 7 points, or 8 points above fair value, at 1187 and

Nasdaq

futures were higher by 9 points, or 11 points above fair value.

Stocks made little headway Friday despite another spate of strong earnings results.

At a Group of 20 summit ahead of the G-20 meeting next month, leaders agreed to avoid competitive currency devalution to balance global trade but failed to set specific targets.

The dollar, which sunk to a new 15-year low against the yen earlier, was trading lower against a basket of currencies. The dollar index was last down by 0.6%.

Meanwhile, the benchmark 10-year Treasury note rose 18/32, diluting the yield to 2.498%.

Overseas, Hong Kong's Hang Seng climbed 0.5% while Japan's Nikkei shed 0.3%. The FTSE in London rose 0.5% and the DAX in Frankfurt also added 0.5%.

At 10 a.m. EDT, the National Association of Realtors will release September existing home sales data. Economists are forecasting higher sales of 4.25 million, compared with sales of 4.13 million in August, according to Briefing.com.

Texas Instruments

(TXN) - Get Report

will report earnings after the closing bell. According to Briefing.com, analysts are expecting a profit of 69 cents a share.

Bank of America

(BAC) - Get Report

found errors involving improper paperwork, blank signatures and missing files in 10 to 25 of the first several hundred foreclosure files that it began examining last Monday, according to a

Wall Street Journal

report.

Federal Reserve

Chairman Ben Bernanke said Monday the Fed is investigating foreclosure practices at major financial institutions during a speech at a Fed/FDIC conference on mortgages and housing finance in Washington.

Office Depot

(ODP) - Get Report

anticipates a third-quarter profit of roughly 18 cents a share, which includes a one-time benefit of 15 cents a share, but said sales will decline 4% to $2.9 billion. Analysts have been expecting a loss of 2 cents a share on sales of $2.95 billion. Office Depot also said its CEO Steve Odland will step down as of Nov. 1 and will serve as a consultant to the company through Dec. 31.

Smart phone sales helped

RadioShack

(RSH)

top third-quarter profit expectations by 2 cents a share. The retailer, which recently began selling

Apple

(AAPL) - Get Report

iPhones in its stores, also said sales rose 6.5% to $1.05 billion.

BP

(BP) - Get Report

agreed to sell its interests in four mature, producing deepwater oil and gas fields in the Gulf of Mexico to

Maubeni Oil and Gas

for $650 million.

Singapore Exchange

said it made a cash and stock offer of $8.3 million to acquire the operator of the Australian Securities Exchange,

ASX

.

In commodity markets, the December crude oil contract gained 97 cents, to trade at $82.66 a barrel. Meanwhile, the December gold contract gained $21.30 to $1,346.40 an ounce.

--Written by Melinda Peer in New York

.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.