The mergers and acquisitions folks are talking loudly today, and Wall Street hears them. Stock futures are pointing up on a day with little economic news to drown out the glad tidings from corporate America.
There is a possible downer in higher oil prices after another attack at a facility in Nigeria. London Brent crude is up around $70 a barrel.
And the housing market continues to take its toll. The Lowe's home-improvement chain reported lower-than-expected quarterly profit and cut its full-year outlook. The current infatuation with equities is bad news for Treasuries, which are flat after the losses of recent days.
The dollar is at a five-week high as investors pare back aggressive bets against it after last week's economic data are dousing expectations of an interest-rate cut. The Chicago Fed national activity index is coming shortly.
And now for the M&A: Private equity firms are buying Alltel for about $25 billion. Women's health care and diagnostics company Hologic is acquiring Cytyc for $6.2 billion in cash and stock.
An Indian newspaper says a unit of the Tata conglomerate and European car parts company Valeo are looking to buy a stake in Ford spinoff Visteon. Finally, takeover artist extraordinaire Blackstone Group plans to raise as much as $4.13 billion from its IPO, and China's new state investment agency is taking a $3 billion nonvoting stake.
Lisa Von Ahn - Editor
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