U.S stocks were poised to open slightly higher, as investors digest merger and acquisition (M&A) new. Abbott Laboratories agreed to pay $6.6 billion in cash for the pharma unit of Belgian rival Solvay, and Xerox announced a cash and stock deal to buy Affiliated Computer Services valued at $6.4 billion.
The economic calendar is light today, but several key readings are in store later this week. The S&P/Case-Shiller Home Price Index and the Conference Board’s Consumer Confidence Index are scheduled for tomorrow. On Wednesday, reports are due on the final revision to real gross domestic product, inventories, and the Chicago purchasing manager’s index. Thursday will be busy with releases that include the weekly jobless claims, personal income and spending, construction spending, pending homes sales and the Institute of Supply Management’s manufacturing PMI. We finish the week with the employment situation report and factory orders.
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