Gains overseas,retail sales data boost US futures

US stock futures crept higher Monday as investors returning from a long holiday weekend were heartened by good news on retail sales. Overseas markets were also higher. The dollar weakened against other currencies,giving commodities prices a boost. Bond prices fell. Data released Monday showed shoppers opened their wallets more this season,a good sign that consumers are feeling better about the economy.

Figures from MasterCard Advisors SpendingPulse,which track all forms of payment,show retail sales rose 3.6 per cent from November 1 through December 24,compared with a 2.3 per cent drop a year ago. Adjusting for an extra shopping day between Thanksgiving and Christmas,the number was closer to a 1 per cent gain. Consumer spending is one of the biggest drivers of economic growth and is vital to a sustained recovery.