US futures sharply higher

New York - US stock index futures rose on Monday, rebounding from a steep drop in the previous week, after Sunday's referendum over whether Crimea will join Russia passed without violence.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

The benchmark index closed below a key technical support level of 1,850 for a second straight day on Friday, and is now down 2 percent from its all-time closing high.

Dow Jones industrial average futures added 85 points and Nasdaq 100 futures rose 22.75 points.

The US Federal Reserve's massive stimulus program has helped keep a floor under equity prices, and market participants are looking ahead to a two-day meeting of the Fed's policy-setting committee, which begins Tuesday.