NEW YORK (TheStreet) -- Here are 10 things you should know for Monday, Nov. 3:
1. -- U.S. stock futures were pointing lower on Monday after Friday's gains that saw the Dow Jones Industrial Average and S&P 500 close at record highs.
European stocks were lower while Asian shares ended Monday's session mixed on weakness in Chinese manufacturing.
2. -- The economic calendar in the U.S. on Monday includes the ISM Index for October at 10 a.m. EST, and construction spending for September at 10 a.m.
U.S. stocks surged Friday after the Bank of Japan unexpectedly increased its annual stimulus targets by 10 trillion yen to 80 trillion yen.
The S&P 500 closed at 2,017, up 1.14% for the day. The Nasdaq closed up 1.41% to levels not seen since the dot-com bubble burst. The Dow, after touching an intra-day record, closed at 17,373, up 1.03%.
Publicis will pay $25 a share for Sapient. Shares of Sapient closed Friday at $17.32. The stock was rising in premarket trading on Monday by 41% to $24.45.
The announcement comes just a few days before Publicis, the world's third-largest ad company, is due to present to investors its plans for boosting its growth from digital advertising, The Wall Street Journal reported.
The AFIP tax agency released a statement Sunday accusing the company of fraud related to imports from Brazil that it said were billed through a Swiss subsidiary for $138 million. The agency said the alleged operations were to get currency out of the country and hide taxable income.
There was no immediate comment from P&G, the consumer products giant.
"Global companies can't manage their profits tricking the state, evading taxes and moving currency out of the country because their irregular behaviors impede the development of the nation," said AFIP head Ricardo Echegaray.
Covance shares closed Friday at $79.90. Covance shares rose 25% to %100 in premarket trading on Monday.
The companies said the merger would create the "world's leading health care diagnostics company."
10. -- Diageo(DEO) - Get Report is nearing an asset-swap deal with Jose Cuervo that would give the British liquor giant the 50% of Don Julio tequila that it doesn't already own as well as a cash payment, according to people familiar with the matter, the Journal reported. In return, Diageo would hand over its Bushmills whiskey label to Cuervo.
-- Written by Joseph Woelfel
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