Seeking Alpha

Stock futures tick slightly lower to start the week

  • Stock futures point to a slight pullback from last week's records, as excitement around several corporate deals fails to spill into the broader market; S&P, Dow and Nasdaq all -0.1%.
  • There's no economic data on today's agenda, but plenty of M&A news with deals announced between Tyson (-1.5%) and Hillshire (+4.7%), Analog Devices (+3%) and Hittite Microwave (+28.5%), and Merck (-0.7%) and Indenix Pharma (+232%); also moving are shares of Family Dollar (+11.5%) after Carl Icahn revealed a stake late Friday.
  • European markets are up slightly but trading is thin with public sector holidays in France and Germany, while Asian stocks start the week higher after China's 7% jump in its May trade surplus and Japan's revised Q1 GDP shows strong 6.7% growth.
  • Treasurys will begin the session modestly lower, with the 10-year yield down 2 bps at 2.61%.
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