Monday M&A

Good morning. Premarket futures are positive in spite of mixed performance in overseas markets. A little Monday morning M&A activity (Xerox/Computer Services, Kraft Foods/Cadbury, Solvay/Abbott Labs, Covidien/Aspect Medical, Crucel/Johnson & Johnson) seems to be the primary reason for the positive bias.

Top headlines include news that the leaders of the Group of 20 nations vowed not to become complacent, a weaker than expected Chicago Fed Index, the Obama administration is close to committing up to $35 billion to housing agencies to provide mortgages to low- and moderate-income families, comments about the U.S. dollar from the World Bank's president, oil futures remain weak, a second wave of swine flu pandemic begins to hit the U.S., and hope by money managers that $3.5 trillion in cash on the sidelines will fuel the rally.

Premarket gainers: ASPM, GETI, GMTN, ACS, HYTM, TLAB, HLCS, COMS, VPHM, YRCW, NVAX, PMRY, ACAS, RINO, BZ, AZN, AMAT, WYNN, MGM, LVS, GGC, GIGM, MELA, AVII, LUNA, TSTR, PTIE, TX, DRAM, VPHM, NVAX, KERX, AZN & AMAT.

Premarket losers: CALM, SEPR, GIA, RSO, XRX, XCO, ATLS, INOD, RNR, BPO, ATML, CYS, NPSP, SIMG, BPOP, FSLR, HCBK, RBS, & RTP.

Today is Yom Kippur (Jewish Day of Atonement) and nothing of major of significance is scheduled although at 10:30AM we have Dallas Fed Manufacturing Outlook . Most of this week's data will come at the end of the week including another monthly jobs report this Friday.

For today, Friday's intraday lows like S&P 1041 will be closely watched and, of course I'd continue to keep a close eye on those emerging markets, the dollar, and commodities.

Let's make it a great week!