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.
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3. -- U.S. stocks rose on Friday as fears of a global slowdown that weighed on markets at the beginning of October were eased by strong U.S. economic data, corporate earnings and a dovish policy stance taken by foreign central banks.
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%.
4. -- Publicis (PUBGY) , the French advertising giant, reached a deal to buy digital ad specialist Sapient (SAPE) for $3.7 billion in cash.
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.
5. -- Argentine authorities accused Procter & Gamble (PG) of tax fraud and suspended its operations in the country.
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.
6. -- LabCorp (LH) agreed to buy Covance (CVD) for $105.12 per Covance share in cash and stock, or roughly $5.6 billion.
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."
7. -- Carmakers, including Ford (F) and General Motors (GM) , are expected to release car sales data for October throughout the day.
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