News Update: Stocks, Gulf Coast Spill and Health Insurance Pool

In today’s news update we provide links to stocks in Greece, the Gulf Coast oil spill and health insurance pool.

BEFORE THE BELL:US Stock Futures Up;Focus On Merger, Data, Greece

U.S. stock futures were higher on Monday, with investors set to shake off Friday’s big sell-off as they focused on a well-flagged merger between Continental and United Airlines, anticipation of strong economic data and the Greek aid package.

Futures for the Dow Jones Industrial Average rose 39 points to 10,977, while those for the Nasdaq 100 rose 4 points to 2,003. Futures for the S&P 500 rose 2.6 points to 1,186.

Worries in the financial sector triggered a sharp fall in stocks on Friday, though the month of April was positive.

Gulf Coast oil spill may take months to contain

Officials from the Obama administration and oil giant BP say it may take up to three months to to seal off a leaking oil well 5,000 feet below the surface of the Gulf of Mexico that has created a massive environmental crisis that could affect much of the gulf coast.

BP chief executive Tony Heyward said Monday that “the worst-case scenario is that we would need to contain this for two to three months whilst a relief well is drilled.”

Crist embraces Obama’s high-risk health insurance pool

Gov. Charlie Crist will leave it to the Obama administration to run the federally subsidized high-risk health insurance plan that is to cover people unable to buy such insurance in the private market due to preexisting conditions such as cancer or diabetes.

In a letter late Friday to Health and Human Services Secretary Kathleen Sebelius, Crist said he agreed that states and the federal government must cooperate in expanding healthcare for Americans but said “unfortunately Florida is not in a position to authorize new financial obligations.”