Stock Futures Up; Nokia Sets Upbeat Tone NEW YORK (Reuters) - Stock futures rose on Monday, pointing to a higher market open, with technology stocks looking stronger after Nokia's (NOK1V.HE: Quote , Profile , Research ) chief executive voiced confidence in the mobile phone market. Nokia Chief Executive Jorma Ollila held to his company's forecast that the global mobile phone market will grow by 10 percent in 2005, according to the Financial Times newspaper. Meanwhile, a dip in oil prices could help support stocks. U.S. light crude (CLc1: Quote , Profile , Research ) pulled back 38 cents to $45.90 a barrel, despite concerns about supplies from the Middle East after Muslim militants renewed threats to attack oil facilities. The week was likely to be a quiet one, however, as traders wind down for Christmas. The market will be closed on Friday, Dec. 24, the official observance in the United States of the Christmas holiday, which falls on Saturday this year. S&P 500 futures were up 4.2 points, above fair value accounting for interest rates, dividends and time to expiration on the contract. Dow Jones industrial index futures were up 35 points, while Nasdaq futures gained 7 points. "The strength is particularly led by Nokia, which on the surface appears to be the catalyst this morning," said Andre J. Bakhos, president of Princeton Financial Group. But Bakhos highlighted retail sales as a negative factor. The Wall Street Journal reported on Monday that ShopperTrak of Chicago estimated that retail sales on Saturday were down 7 percent to $6.7 billion compared with the comparable Saturday last year. "The uncertain retail sales picture could cause some concern to the equity market," said Bakhos. Meanwhile, economic news is light, ahead of Christmas, with the only item on the data calendar this session the November leading economic indicators at 1000 EST (1500 GMT). The index is expected to be up 0.1 percent after a 0.3 percent October decline in October. Federal Reserve Bank of Richmond President Jeffrey Lacker speaks on the economic outlook before the Charlotte Chamber of Commerce at 1730 GMT. Stocks that could move include embattled mortgage finance company Fannie Mae (FNM.N: Quote , Profile , Research ) . The Wall Street Journal reported that the Fannie Mae board met on Sunday and has apparently decided that the company's chief financial officer will step down, but no decision has been reached regarding the fate of Chief Executive Franklin Raines. Traders said a report in the Chicago Tribune on retailer K-Mart (KMRT.O: Quote , Profile , Research ) , highlighting the lower quality of its remaining properties, could weigh on the stock following its strong run since August. California-based video games publisher Electronic Arts (ERTS.O: Quote , Profile , Research ) will also be eyed after saying it will buy almost 20 percent of French video games maker UbiSoft Entertainment (UBIP.PA: Quote , Profile , Research ) for an undisclosed sum. Pfizer Inc. (PFE.N: Quote , Profile , Research ) will remain in focus. The stock tumbled 11 percent on Friday after it said patients taking Celebrex in a long-term cancer-prevention trial had more than twice the number of fatal or non-fatal heart attacks as those taking a placebo. On Sunday, Pfizer agreed to suspend advertisements for Celebrex while regulators review the data but has said it does not plan to recall the drug. U.S. stocks closed lower on Friday, with the Dow Jones industrial average ended down 55.72 points, or 0.52 percent, at 10,649.92. Based on the latest data, the Standard & Poor's 500 Index closed down 9.01 points, or 0.75 percent, at 1,194.20. The technology-laced Nasdaq Composite Index was down 10.95 points, or 0.51 percent, at 2,135.20. Quelle "Stock Futures Up; Nokia Sets Upbeat Tone" : reuters.com Main page for "Stock Futures Up; Nokia Sets Upbeat Tone"