Stocks: 5 things to know before the open

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Apple is in focus as the markets tiptoe higher this morning.

Here are the five things you need to know before the opening bell rings in New York:

1. Apple's upcoming announcement: Apple is hosting an event at its Cupertino campus on Monday where it's expected to unveil smaller versions of the iPhone and iPad Pro.

The event kicks off at 10 a.m. Pacific Time (1 p.m. ET).

It could also unveil new Apple Watch straps, though the Apple Watch itself is expected to remain unchanged.

Apple is among the most popular stocks held by "average Joe" American investors.

2. Global market overview: Sentiment is cautiously positive Monday morning.

U.S. stock futures are edging higher, and European markets are up by about 0.5%.

The main Chinese stock market indexes jumped on Monday, though other Asian markets closed with mixed results. Japan markets were closed for a holiday.

Related: Fear & Greed Index

3. Mixing paint: Two U.S. paint companies are coming together in a takeover deal worth roughly $11.3 billion, including debt.

Sherwin-Williams (SHW) announced on Sunday it was buying Valspar (VAL) for $113 per share in cash.

The deal represents a 35% premium over Valspar's closing price on Friday.

4. Companies to watch: Petrobras (PBR) will be in focus as Brazil's oil company posts earnings after the closing bell.

A gargantuan bribery scandal at Petrobras has been blamed for plunging Brazil into a deep recession. Top government officials have been linked to the scandal, and Brazilians have staged mass protests.

Monsanto (MON) is also in the spotlight as it reportedly shops around for takeover deals. Bloomberg is reporting the company has been talking to BASF (BASFY) and Bayer (BAYZF) about potential acquisitions. Shares in Bayer are up nearly 5% in Germany.

5. Weekly market recap: The Dow Jones industrial average rose 2.3% last week to close at its highest level of 2016. This marks its fifth consecutive week of gains.

The S&P 500 and Nasdaq also rose over the course of the week.

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