Although the concern of the Greek question remained, markets rallied on hope that Greece was moving closed to a deal. The Dow futures rose 152 points, or about 0.85% in New York and S&P 500 E-mini were up 0.91%. Nasdaq 100 E-mini futures were higher by 1%.
The euro was slightly down 0.05% as a new proposal by Greek Prime Minister Alexis Tsipras drew a rare positive reaction from European officials who indicated it could help break the impasse during talks on Monday, Bloomberg reported. The new offer "was a good basis for progress" ahead of Monday's emergency summit, European Commission spokesman Martin Selmayr, said on Twitter.
Williams Cos. (WMB) rejected a takeover offer, the Wall Street Journal reported, from Energy Transfer Equity (ETE), whose operating segments include investment in Action Alerts PLUS holding Energy Transfer Partners (ETP).
"[It's a] gutsy offering that would put Energy Transfer among the biggest oil companies in the country," The Street's Jim Cramer said.
Over the weekend, Anthem (ANTM) raised its offer for Cigna (CI) to $47.5 billion on Saturday, but the offer was reportedly rejected Sunday. And Aetna (AET) made a takeover proposal to Humana (HUM) for an undisclosed amount, the Journal reported.
Abroad, Altice, the Luxembourg-based telecommunications company, reportedly offered about $11.4 billion to buy French mobile operator Bouygues Telecom, sources told the Journal.
Looking ahead, today, we'll be watching Sonic (SONC), which reports earnings after the close. "I expect Sonic to report a solid quarter," Cramer told his viewers on CNBC's "Mad Money," praising the company's buyback program.
Durable goods data will be released on Tuesday. If there's a Greek deal and the data are good, there could be a selloff in stocks as investors speculate on a potential rate hike, Cramer noted. Carnival (CCL) and Darden Restaurants (DRI) also report earnings. Cramer said Darden appears to be turning the corner in its turnaround efforts.
On Wednesday, Lennar (LEN) reports earnings and Cramer expects the homebuilder to follow the lead of KB Home (KBH), which reported bullish results on Friday.
Accenture (ACN) reports earnings on Thursday, and Cramer says to look for more of the same: consistency. Nike (NKE) also reports earnings. After hitting a new all-time high, if you're not already long the stock, you might want to wait for a pullback before getting in, despite the impressive growth. Micron (MU) reports as well, and the stock may be near a bottom, Cramer said.
Finally, on Friday, Finish Line (FINL) reports earnings. Last quarter's results were weak, but Cramer expects a better showing this time. But he likes Nike, Under Armour (UA) and Foot Locker (FL) more.
Separately, Barron's cover story said airline stocks could soar up to 50% in a year. Consolidation, cost cuts, and fee hikes have left the industry in relatively great financial shape as profits rise on cheaper fuel. But valuations have dropped to levels normally reserved for high-risk companies. This creates an opportunity for bargain hunters, and shares of the nation's top four carriers -- American Airlines Group (AAL), Delta Air Lines (DAL), United Continental Holdings (UAL), and Southwest Airlines (LUV) -- could rise 15% to 50% in a year, Barron's says.