Takeover talk is swirling through the markets Monday as Pfizer said it has been looking at a $100 billion bid for AstraZeneca, and General Electric is reportedly attempting to buy Alstom's power turbines business.
U.S. stock futures were rising ahead of the opening bell as investors and traders consider the implications of these potential M&A deals.
"A Pfizer approach to AstraZeneca has given GBP/USD a bit of a boost this morning," noted Kit Juckes at Societe Generale.
Shares in AstraZeneca surged by about 15% in premarket trading, while Pfizer shares were edging higher.
"Pfizer has laid its cards on the table in a bid for pharma titan AstraZeneca, but so far the UK firm is being decidedly coy in its response," wrote IG market analyst Chris Beauchamp.
Both General Electric ( and Germany's )Siemens ( are reportedly looking to buy the power divisions of France's )Alstom (, though French government officials are said to be concerned about a U.S. takeover. )
Trading in Alstom shares has been suspended. The company promised to make a statement by Wednesday at the latest. Shares in General Electric dipped lower in premarket trading. General Electric has made no comment.
Shares in Siemens fell in premarket trading. The German firm said it has proposed to discuss strategic options with Alstom, but declined further comment.
Aside from the deal chatter, quarterly earnings continue to roll in from some major companies.
Herbalife ( and )Suncor Energy ( will post results after the closing bell. )
On the economic front, the National Association of Realtors will release data on pending home sales for March at 10 a.m. ET.
European markets were all moving up in morning trading, with the French and German indices posting the largest gains.
Most major Asian markets declined Monday.