NEW YORK (TheStreet) -- Stock futures charged higher, setting up for a bounce at market open Monday as Greek debt talks showed signs of progression.
S&P 500 futures were up 0.76%, Dow Jones Industrial Average futures gained 0.72%, and Nasdaq futures added 0.82%.
Eurozone finance ministers convened on Monday for an emergency summit in which to discuss Greece's future in the eurozone at a political level. Talks have escalated as Greece faces a crucial repayment to the International Monetary Fund by the end of the month.
Greek prime minister Alexis Tsipras submitted new proposed reforms over the weekend, a condition of further debt relief. Among those reported, though not confirmed, Greece will eliminate early retirement benefits, cut defense spending and increase corporate tax rates.
"Our assessment of the reported changes above is that they represent meaningful concessions from the Greek side, if they are to be confirmed, bringing them closer to the creditor proposals," said George Saravelos, Deutsche Bank strategist. "Developments over the next few days are likely to remain rapid."
Existing home sales for May will be released mid-morning Monday. Economists expect 525,000 sales to have closed over the month, up from 517,000 in April, as the housing market continues its rebound.
Cigna (CI) rejected Anthem's (ANTM) increased offer of $184 a share after its board unanimously opposed the terms. The new offer from Anthem had represented a 35.4% premium over Cigna's late May price before reports of a deal surfaced.
Oil and gas company Williams (WMB) rocketed nearly 30% higher in premarket trading after Energy Transfer Equity (ETE) confirmed it had made an unsolicited bid worth $48 billion. Williams rejected the offer.