Futures were gearing up to start the week off with some optimism after the grueling drops suffered last week.
S&P 500 futures on
lately were up 1.4 points to 1322, about four points above fair value as calculated by
. The thinly traded
futures were 13.5 points higher to 2586, or about 30 points above fair value as calculated by
Investors were scarce this morning in preopen trading -- sleeping off a weekend hangover, maybe?
finally got an acceptable proposal, after
offered a bid of more than $13 billion in stock. Quaker has been the object of several suitors' affection because of its lucrative Gatorade line of sports drinks. Neither party had traded yet this morning on electronic brokerage
were the blue-light specials this morning. The stocks suffered in last week's selloff and this morning bargain hunters were picking them up. Lately, Intel was up 87 cents from Friday's close to $35, Microsoft was $1.12 higher to $57.75 and Cisco was lifted 66 cents to $49.16.
Europe's major indices were down at midsession, with France's
2% lower, Germany's
dropping 1.5% and the U.K.'s
off 0.8%. Meanwhile, Asian markets bounced on Nasdaq gains made Friday. Japan's
edged up 0.8% overnight, while Hong Kong's
also rose 0.8%.
For Friday's postclose trading, see The Night Watch.