After the long week-end, stocks are set to resume trading modestly higher, having received mixed signals from overseas markets.
Chinese stocks were strong overnight but European markets have been off the pace.
Spread betting quotes point to the S&P 500 opening at around 2,102, up three points on Friday’s close. The Dow Jones average is seen kicking off at around 17,895, up 22 points.
There has not been much big-time corporate news to wade through this morning, but Celator Pharmaceuticals Inc (NASDAQ:CPXX) is expected to set the pace after the board agreed to recommend acceptance of a bid from French peer Jazz Pharmaceuticals Inc.
Shares in Celator were up 72% in pre-market trading to $30.11 as Jazz offered $30.25 a share, valuing Celator at around $1.5bn.
Computer memory specialist Micron Technology Inc (NASDAQ:MU) was wanted, up 3% in pre-market trade, as broker Robert W Baird upgraded the stock from ‘neutral’ to ‘outperform’, on the basis of an improved outlook for PCs and the Chinese smartphone market.