Futures Higher on M&A Activity

Futures pointed to a higher open Monday with merger and acquisition activity adding some energy to relatively quiet markets.
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Futures pointed to a higher open Monday with merger and acquisition activity adding some energy to relatively quiet markets. The Dow Jones Industrial Average futures were up by 44 points, at 10246. S&P 500 futures were higher by 6 points, at 1076. Nasdaq futures were up by 10, at 1835. Crude rebounded to top $74.00 per barrel on the back of a weaker U.S. dollar, but prices remain near a six-week low. Asian stocks ended mixed, while European shares are trading mostly higher.

M&A continues to dominate the headlines. BHP Billiton's (BHP) - Get Report hostile offer for Canada's Potash of Saskatchewan (POT) could see competition as two potential rival bidders have emerged, according to several media reports. Campbell Soup Company (CPB) - Get Report is considering making a 1.5 billion pound, or $2.3 billion, break-up bid for Britain's United Biscuits, the Sunday Times reported.

There is no economic data today and the earnings calendar is light. There are three major pieces of economic data, however, to be released later in the week. Existing home sales is due out on Tuesday at 10 a.m. EDT, Durable Goods on Wednesday at 8:30 a.m. EDT and the GDP report on Friday at 8:30 a.m. EDT. Notable companies reporting this week include: Medtronic (MDT) - Get Report, JCrew (JCG) ,Toll Brothers (TOL) - Get Report, American Eagle (AEO) - Get Report and Tiffany (TIF) - Get Report.

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