Wall Street eases back to work

Stock futures head higher as traders return from holiday weekend; JPMorgan's bid for Bear in focus.

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LONDON(CNNMoney.com) -- U.S. stock futures edged higher early Monday as investors returned from the long weekend and eyed the possibility of a higher bid for Wall Street firm Bear Stearns.

At 4:15 a.m. ET, Nasdaq and S&P futures were a shade higher. U.S. markets were closed Friday.

Investors are bracing for a busy economic calendar this week. The string of reports kicks off Monday with a reading on February existing home sales, due out at 10 a.m. ET.

In major deal news, JPMorgan Chase (JPM, Fortune 500) may hike its offer for rival Bear Stearns (BSC, Fortune 500) fivefold to $10 a share, according to a report in the New York Times. Last week JPMorgan reached a deal to buy Bear for just $2 a share.

In global trade, Japan stocks finished the session mixed. European markets were closed. To top of page

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