U.S. stocks to consider possible Warner Music deal as they begin holiday-shortened week.
Deals -- done and not done -- could be the dominant theme Monday as Wall Street begins a holiday-curtailed trading week.
At 5:20 a.m. ET, futures pointed to a higher start for the major indexes.
The apparently done deal involves media power Time Warner. It is expected to announce that it is selling its Warner Music unit -- home of such artists as Madonna, Missy Elliott and matchbox twenty -- for $2.6 billion, according to sources quoted by Reuters. The would-be buyer is a group headed by former Seagram chairman Edgar Bronfman Jr. and the private equity firm Thomas H. Lee; the group is said not to include entertainment magnate Haim Saban.
Among U.S. stocks trading in Europe, Time Warner (TWX: Research, Estimates) -- the parent of CNN/Money -- was up nearly 1 percent early Monday.
The not-done deal is in auto parts, with ArvinMeritor (ARM: Research, Estimates) withdrawing its proposed $2.7 billion offer for Dana (DCN: Research, Estimates) after Dana rejected the deal as "neither attractive or compelling."
U.S. stock markets will hold full sessions Monday through Wednesday. They'll be closed Thursday for Thanksgiving, and will shut down at 1 p.m. ET Friday as part of the holiday weekend.
The Dow Jones industrial average begins at 9,628 after losing 1.4 percent last week despite a modest gain Friday. The Nasdaq composite index was at 1,894 following a 1.9 percent decline for the week (see chart for Friday's details).
Asian-Pacific stocks ended mixed Monday; Tokyo markets were closed for the Labor Thanksgiving holiday. European stocks began their sessions higher as investors awaited a mid-quarter update from No. 1 cellphone maker Nokia.
Treasury prices retreated in early trading, sending the 10-year note yield up to 4.17 percent from 4.16 percent late Friday. The dollar rallied more than a cent against the euro, and was modestly higher versus the yen.
Brent oil futures slipped 37 cents to $28.99 a barrel in London, where gold was higher.
Deals -- done and not done -- could be the dominant theme Monday as Wall Street begins a holiday-curtailed trading week.
At 5:20 a.m. ET, futures pointed to a higher start for the major indexes.
The apparently done deal involves media power Time Warner. It is expected to announce that it is selling its Warner Music unit -- home of such artists as Madonna, Missy Elliott and matchbox twenty -- for $2.6 billion, according to sources quoted by Reuters. The would-be buyer is a group headed by former Seagram chairman Edgar Bronfman Jr. and the private equity firm Thomas H. Lee; the group is said not to include entertainment magnate Haim Saban.
Among U.S. stocks trading in Europe, Time Warner (TWX: Research, Estimates) -- the parent of CNN/Money -- was up nearly 1 percent early Monday.
The not-done deal is in auto parts, with ArvinMeritor (ARM: Research, Estimates) withdrawing its proposed $2.7 billion offer for Dana (DCN: Research, Estimates) after Dana rejected the deal as "neither attractive or compelling."
U.S. stock markets will hold full sessions Monday through Wednesday. They'll be closed Thursday for Thanksgiving, and will shut down at 1 p.m. ET Friday as part of the holiday weekend.
The Dow Jones industrial average begins at 9,628 after losing 1.4 percent last week despite a modest gain Friday. The Nasdaq composite index was at 1,894 following a 1.9 percent decline for the week (see chart for Friday's details).
Asian-Pacific stocks ended mixed Monday; Tokyo markets were closed for the Labor Thanksgiving holiday. European stocks began their sessions higher as investors awaited a mid-quarter update from No. 1 cellphone maker Nokia.
Treasury prices retreated in early trading, sending the 10-year note yield up to 4.17 percent from 4.16 percent late Friday. The dollar rallied more than a cent against the euro, and was modestly higher versus the yen.
Brent oil futures slipped 37 cents to $28.99 a barrel in London, where gold was higher.
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