S&P futures were up 35 points, rising to 3,165 and finally breaking above the 3,150 zone that has proven to be stern resistance over the past month. The dollar index fell for a fifth day and Treasuries dipped even as surging coronavirus cases delayed business re-openings across the United States, while precious metals and oil rose.

MSCI's All-Country World Index rose 0.7% to its highest since June 6 after the start of European trading, with investors putting their faith in an economic recovery powered by historic government stimulus.

European stocks also jumped, with the STOXX 600 index rising 1.64%. Banks and autos lead gains in early European trading, with the sectors up 4.5% and 3.5% respectively, as both industry groups trade at the highest level since June 10. The gains come amid an overall bullish market Monday with global stocks higher, led by gains in China after the country's influential state media stoked enthusiasm in the market.