Seeking Alpha

European data, M&A moves help push stock futures higher

  • Stock futures edge higher, sparked by positive developments in Europe and M&A movement at home, and overcoming fears of a worsening credit bubble in China; S&P and Nasdaq +0.2%, Dow +0.1%.
  • Asian markets fell after data showing sharply higher new home prices in China prompt worries that the government could impose new controls to cool the property market.
  • European markets are higher after data showing business confidence in Germany rose more than expected; the weekend removal of Ukraine's president and expectations of a financial assistance package also boosts sentiment.
  • M&A news sparks early movers: TriQuint Semi +20.8% premarket after agreeing to merge with RF Micro Devices, and Jos. A. Bank +8% after Men’s Wearhouse raised its takeover offer to $63.50/share.
  • Treasurys display modest gains, with the benchmark 10-year yield off nearly 2 bps at 2.73%.
  • Still ahead: Dallas Fed.
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