Futures edged higher Monday after six weeks of declines for the S&P 500 left equities at more attractive levels.
In merger and acquisition news, Allied World Assurance said it would buy Transatlantic Holdings for $3.2 billion in stock on Sunday, and the two companies said the transaction is structured as a merger of equals.
And VF said it would acquire shoemaker Timberland for $2 billion to boost its outdoor and action sports business. Shares of Timberland skyrocketed more than 40 percent.
Meanwhile, Wendy's/Arby's gained after the fast-food chain announced it will sell its struggling Arby's Restaurant to Roark Capital Group for about $130 million in cash. Wendy's/Arby's will retain 18.5 percent ownership of Arby's valued at about $30 million, the firm said in a statement.
In the banking sector, HSBC will run down its credit card business in the U.S. if it cannot find a buyer, CEO Stuart Gulliver, as the bank is trying to cut costs and reduce retail banking.
Some of the major U.S. banks are getting ready to cut their exposure to U.S. Treasurys in August, when a deadline for an agreement on raising the debt ceiling expires, the FT reported.
An online tax battle is looming, the FT also reported, as Amazon and Ebayhave different positions over the taxation of internet shopping.
Texas Instruments slipped after Baird cut its price target on the semiconductor firm to $34 from $35.