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AT&T is buying Time Warner. AT&T will pay $107.50 per share, or $85.4 billion, for Time Warner, giving it ownership of networks like CNN, HBO, TNT, and several other media properties. In a joint statement, the companies said the deal will allow AT&T to deliver Time Warner content to any device.
TD Ameritrade is buying a rival. TD Ameritrade has agreed to buy Scottrade in a cash and stock transaction worth $4 billion.
Rockwell Collins is buying B/E Aerospace. Rockwell will pay $62 per share in cash and stock, or $6.4 billion plus the assumption of $1.9 billion in debt, for the aircraft seat maker.
Germany is once again the leader in Europe. Markit's flash composite PMI figure for the eurozone - a first measure of growth in the continent-wide economy came in at 53.7 in October, up from September's final reading of 52.6. Germany powered the region as its composite print came in at 55.1, up from September's 52.8. The euro is down 0.1% at 1.0893 against the dollar.
Japan's trade balance swung back to a surplus. Data from Japan's Ministry of Finance showed a trade surplus of 498.3 billion yen in September, an improvement from the 18.7 billion yen deficit seen in August, as the value of its exports fell at a slower pace. The Japanese yen is up 0.1% at 103.90 per dollar.
Iraq doesn't want to participate in the OPEC freeze. Iraq, OPEC's second largest oil producer, says it wants to be exempt from the OPEC production freeze, which is expected to be decided at the November 30 meeting in Vienna, Austria. West Texas Intermediate crude oil is lower by 0.3% at $50.58 per barrel.
Stock markets around the world are up. China's Shanghai Composite (+1.2%) led the gains in Asia and Germany's DAX (+0.8%) paces the advance in Europe. The S&P 500 is indicated to open higher by 0.4% near 2,152.
Earnings reports flow. T-Mobile reports ahead of the opening bell while Visa highlights the names releasing their quarterly results after markets close.
US economic data is light and Fed speak is heavy. Data is limited to Markit US Manufacturing PMI, which will cross the wires at 9:45 a.m. ET. Meanwhile, Fed speakers are numerous as New York's Dudley, St. Louis' Bullard, Chicago's Evans and Governor Powell all take the mic on Monday.