The economic calendar in the U.S. includes the Conference Board's employment trend index for December at 10 a.m. EST. The Federal Reserve is scheduled to issue consumer credit data at 3 p.m.
Alcoa (AA - Get Report) posts results after the closing bell Monday, marking the unofficial start to the earnings season. The aluminum maker last week said its global smelting capacity will be reduced by 12% after the closure of certain plants. Alcoa said it would record fourth-quarter restructuring charges of $155 million to $165 million. Analysts' expectations on Alcoa's results vary from a loss of 5 cents a share to a profit of 1 cent.
Bristol-Myers Squibb (BMY - Get Report) plans to acquire Inhibitex (INHX) for $2.5 billion. Bristol-Myers' all-cash tender offer values Inhibitex at $26 a share, or more than two-and-a-half times the company's closing stock price on Friday of $9.87. For all that cash, Bristol-Myers gains control of Inhibitex's INX-189, a pill in phase II studies which has the potential to become a component in the first all-oral therapies against hepatitis C.
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