By Victor Reklaitis, MarketWatch

Deal news for AT&T-Time Warner, B/E-Rockwell Collins, Ameritrade and more

U.S. stock futures on Monday pointed to a higher open, getting a lift from AT&T's planned buyout of Time Warner and additional deal news.

Investors are waiting for fresh readings on manufacturing activity and the Chicago Fed National Activity Index, as well as to react to earnings from wireless carrier T-Mobile US Inc.(TMUS) , apparel company VF Corp.(VFC) and Huggies diapers producer Kimberly-Clark Corp.(KMB)

Several Federal Reserve officials are also due to speak.

S&P 500 futures gained 9.30 points, or 0.4%, to 2,144, while Dow Jones Industrial Average futures rose by 79 points, or 0.4%, to 18,145. Nasdaq-100 futures tacked on 29 points, or 0.6%, to 4,872.25.

Last week, the S&P 500 gained 0.4% for the week (http://www.marketwatch.com/story/us-stocks-set-for-down-day-with-ge-mcdonalds-earnings-ahead-2016-10-21), ending a two-week losing streak and finishing 2.2% below its mid-August record close.

"Despite strong earnings reports, U.S. indices increasingly look like they are coming under distribution, particularly the SPX 500, which appears to be completing a head and shoulders top," said Colin Cieszynski, chief market strategist at CMC Markets, in a note. A head and shoulders pattern (http://www.investopedia.com/terms/h/head-shoulders.asp) is a bearish chart formation.

"Part of the headwinds for stocks may be coming from continued gains by the USD, although the dollar index is starting to look exhausted," Cieszynski added.

See: How the almighty dollar will tell you where stocks are going next (http://www.marketwatch.com/story/how-the-almighty-dollar-will-to-you-where-stocks-are-going-next-2016-10-21)

Individual movers: Shares in HBO and CNN parent Time Warner Inc.(TWX) fell 0.5% in premarket action, as an earlier gain evaporated. The moves follow news over the weekend that AT&T Inc.(T) has reached a deal (http://www.marketwatch.com/story/att-reaches-deal-to-buy-time-warner-for-80-billionplus-wall-street-journal-2016-10-22-14103223) to buy the media company for $85 billion. The huge buyout looks set to face opposition no matter who wins the U.S. presidential election, with Donald Trump and Hillary Clinton both expressing skepticism (http://www.marketwatch.com/story/both-clinton-trump-wary-of-att-time-warner-merger-2016-10-23).

Shares in B/E Aerospace Inc.(BEAV) jumped 17% premarket after Rockwell Collins Inc.(COL) on Sunday announced a $6.4 billion deal (http://www.marketwatch.com/story/rockwell-collins-in-64-billion-deal-to-buy-be-aerospace-2016-10-23) to unite the two aerospace suppliers. Rockwell Collins was down about 2%.

Brokerage TD Ameritrade Holding Corp.(AMTD) and Toronto-Dominion Bank(TD.T)(TD.T) confirmed they have agreed to buy (http://www.marketwatch.com/story/td-ameritrade-td-bank-announce-4-billion-scottrade-takeover-2016-10-24) privately owned brokerage Scottrade Financial Services for $4 billion. Ameritrade's stock was up 1% premarket.

Insurer Genworth Financial Inc.(GNW) has agreed to sell itself for $2.7 billion () to a Chinese investment firm, China Oceanwide Holdings Group Co. (0715.HK) . Genworth was down 0.4% premarket.

In earnings news, Kimberly-Clark was lower premarket (http://www.marketwatch.com/story/kimberly-clark-shares-drop-after-earnings-miss-guidance-cut-2016-10-24) after its quarterly profit missed forecasts, and VF Corp. dropped after cutting its guidance (http://www.marketwatch.com/story/vf-corp-shares-fall-after-guidance-slashed-2016-10-24). T-Mobile was higher after posting better-than-expected profit (http://www.marketwatch.com/story/t-mobile-shares-rise-5-after-company-posts-better-than-expected-q3-profit-2016-10-24).

Read more: Stock market this week looks to Apple, Google earnings for jolt (http://www.marketwatch.com/story/stock-market-looks-to-apple-google-earnings-for-jolt-2016-10-22)

Other markets: Oil futures traded lower following choppy action as Iraq indicated it won't cut production (http://www.marketwatch.com/story/oil-prices-fall-after-iraq-says-it-wont-scale-back-output-2016-10-24). European stocks traded higher (http://www.marketwatch.com/story/european-stocks-advance-with-spanish-shares-energized-by-political-deal-2016-10-24), while Asian markets closed mostly with gains. Gold futures and a key dollar index were slightly down.

Economic news: A September reading for the Chicago Fed National Activity Index is slated to hit at 8:30 a.m. Eastern Time, and an October figure for Markit's purchasing managers' manufacturing index is due at 9:45 a.m. Eastern.

On the Fed front, New York Fed President William Dudley is expected to give opening remarks at 9 a.m. Eastern at a conference in New York on the Treasury market's evolving structure. Fed Gov. Jerome Powell is scheduled to moderate a panel discussion at the same conference at 1:45 p.m. Eastern.

St. Louis Fed President James Bullard is due to give a presentation at 9:05 a.m. Eastern in Fayetteville, Ark., to the Association for University Business and Economic Research, while Chicago Fed President Charles Evans is expected to give a speech and take part in a Q&A in the Windy City at 1:30 p.m. Eastern.

(END) Dow Jones Newswires

October 24, 2016 08:09 ET (12:09 GMT)

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