U.S. stock exchange traded funds were poised for a bounce Monday after last week’s steep losses on hopes European leaders will find a way out of the debt crisis.

In global equity markets, Europe also rose while in Asia, China’s Hang Seng and Japan’s Nikkei were in the red.

Investors remain worried Greece will default amid speculation Monday the size of the European Financial Stability Facility, the bailout fund, may be increased.

“Nothing concrete has come out of the IMF meeting, but there is a lot of talk about the Europe TARP and rate cuts so that has led to optimism in some quarters,” Ioan Smith, a director at Knight Capital Europe Ltd., told Bloomberg. “I still think there is a long way to go. Nobody wants to be too long this market.”

Vanguard European ETF (NYSEArca: VGK) lost 6.5% last week and is off 17.8% year to date, according to Morningstar.

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