U.S. markets consider $10.8B insurance merger, personal income report at start of trading week.
A nearly $11 billion merger in the insurance industry and the latest reading on personal income are among the items facing U.S. investors Monday as a new trading week begins.
At 5:25 a.m. ET, futures pointed to a higher open for the major indexes, which are coming off a week of sharp losses.
Manulife, Canada's No. 3 insurer, said Sunday that John Hancock Financial Services (JHF: Research, Estimates), one of the nation's leading life insurance providers, agreed to be acquired in a stock swap transaction valued at $10.8 billion. Speculation about the deal has been driven shares of Hancock higher in recent sessions.
Hancock shares closed Friday at $34.30.
Before the markets open, the government releases its August report on personal income. Economists surveyed by Briefing.com expect a 0.3 percent increase, compared with a 0.2 percent increase in July. Personal spending is seen rising by the same 0.8 percent as it did in July.
The Dow Jones industrial average begins the week at 9,313.08, having tumbled 0.3 percent Friday and more than 300 points for the whole week. The Nasdaq composite index lost more than 133 points for the week after a 1.4 percent retreat (see chart for details).
Asian-Pacific stocks ended lower Monday, with Tokyo's Nikkei index a 0.9 percent loser. European markets were mostly higher. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Walt Disney (DIS: Research, Estimates) was up more than 1 percent. The Wall Street Journal reported that Disney is introducing a new service that would beam video rentals directly into homes through a device attached to the TV set.
Treasury prices fell in early trading, sending the 10-year note yield up to 4.04 percent from 4 percent late Friday. The dollar gained against the euro and was flat versus the yen.
Brent oil futures, after last week's sharp gains on the OPEC production cut, rallied another 36 cents to $27 a barrel in London, where gold eased in early trading.
A nearly $11 billion merger in the insurance industry and the latest reading on personal income are among the items facing U.S. investors Monday as a new trading week begins.
At 5:25 a.m. ET, futures pointed to a higher open for the major indexes, which are coming off a week of sharp losses.
Manulife, Canada's No. 3 insurer, said Sunday that John Hancock Financial Services (JHF: Research, Estimates), one of the nation's leading life insurance providers, agreed to be acquired in a stock swap transaction valued at $10.8 billion. Speculation about the deal has been driven shares of Hancock higher in recent sessions.
Hancock shares closed Friday at $34.30.
Before the markets open, the government releases its August report on personal income. Economists surveyed by Briefing.com expect a 0.3 percent increase, compared with a 0.2 percent increase in July. Personal spending is seen rising by the same 0.8 percent as it did in July.
The Dow Jones industrial average begins the week at 9,313.08, having tumbled 0.3 percent Friday and more than 300 points for the whole week. The Nasdaq composite index lost more than 133 points for the week after a 1.4 percent retreat (see chart for details).
Asian-Pacific stocks ended lower Monday, with Tokyo's Nikkei index a 0.9 percent loser. European markets were mostly higher. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Walt Disney (DIS: Research, Estimates) was up more than 1 percent. The Wall Street Journal reported that Disney is introducing a new service that would beam video rentals directly into homes through a device attached to the TV set.
Treasury prices fell in early trading, sending the 10-year note yield up to 4.04 percent from 4 percent late Friday. The dollar gained against the euro and was flat versus the yen.
Brent oil futures, after last week's sharp gains on the OPEC production cut, rallied another 36 cents to $27 a barrel in London, where gold eased in early trading.
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