- Stock futures suggest a strong open, supported by solid earnings reports, attempted M&A, and better than expected Chinese data; S&P and Dow +0.4%, Nasdaq +0.6%.
- Bank of America, CSX and Intel posted notable earnings beats, while only Yahoo was unable to live up to analyst estimates.
- An attempted media mega-deal is making headlines as Time Warner +15.5% premarket after rejecting 20th Century Fox's $85/share offer.
- Also, Apple and IBM are each +2% after agreeing to team up to create business apps and sell iPhones and iPads to IBM’s corporate customers.
- China GDP, industrial production and fixed asset investment all beat estimates, but Asian markets ended mixed; however, major European bourses are higher across the board.
- U.S. Treasury prices ease off their worst levels of the session; the benchmark 10-year yield is ~2.556%.
- Still ahead: NAHB housing index, EIA petroleum inventories, more Yellen testimony.