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Futures head higher; could test new levels

Peter Costa

Photo: AP Trader Peter Costa, left, works on the floor of the New York Stock Exchange, in New York. Stock markets in Hong Kong, mainland China and Seoul were among those closed Monday, Feb. 11, 2013, for the Lunar New Year holiday. Japanese markets were also shut for a public holiday. European stocks were mostly higher in early trading, while Wall Street futures signaled gains ahead of the opening bell.

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NEW YORK (AP) — Futures are following overseas markets higher and U.S. indexes could be heading for new multi-year highs.

Dow Jones industrial futures are up 29 points to 13,955. The broader S&P futures have added 3.3 points to 1,515.70. Nasdaq futures are up 5.5 points to 2,777.50. The Standard and Poor's 500 hit a five-year high Friday and it appears set to reach for new heights Monday.

The Dow, after breaking the 14,000 barrier on Feb. 1, may near those levels again. Europe is still a worry and Central Bank President Mario Draghi is warning that if the euro continues to rise, the trading bloc's monetary policy could shift.

Still, the EU passed a new 7-year budget Friday, and markets in Europe and Asia are rising.

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