1:00PM NY, 5:00 PM Frankfurt European stocks ended lower, dragged by weak mining stocks.

European stock markets finished in the negative territory on Monday, dragged by weakness in the metals sector. Rio Tinto shares fell 3.5% and Lonmin dropped 3.4%. Notable gains for DaimlerChrysler and Nokia failed to offset losses. German automotive giant DaimlerChrysler advanced 1.8% boosting the autos sector after private-equity firm Cerberus agreed to buy 80% of Chrysler Group from DaimlerChrysler for $7.4 billion. Rival Peugeot gained 1.1% and Renault gained 2.5%.

Tech shares also stood out among gainers, led by Nokia which rose 4.8% after lifting its Q2 financial outlook. Competing phone- maker Ericsson advanced 2.5%, while microchip supplier STMicroelectronics gained 1.2%.By region, the German DAX Xetra 30 lost 0.3% at 7,459.61, the French CAC-40 declined 0.4% at 6,026.42, and the U.K. FTSE 100 slipped 0.2% at 6,555.50.


11:30AM Market turned mixed on profit-taking ahead of data.

The three major averages pulled back off their highs for the session as buying interest diminished ahead of the release of some key economic data, including a closely watched report on consumer price inflation. Profit-taking helped offset news that DaimlerChrysler AG (DCX: chart) agreed to sell 80% of Chrysler for $7.45 billion news. The automaker advanced 1.4%, while Ford Motor Co. (F: chart) rose 4.7%. Magna International (MGA: chart) one of the last bidders for Chrysler dropped 1.6%.

The tech-heavy Nasdaq was even dragged lower by weakness among disk drive, networking, and internet stocks. Dell (DELL: chart) dropped 2.1%, Yahoo (YHOO: chart) lost 1.7%, and Cisco (CSCO: chart) fell 1%. At the same time, telecom stocks advanced, boosted by 3.5% gain for Nokia (NOK: chart) after it lifted its outlook for the second-quarter.

In morning trading, the Dow Jones industrial average rose 33.56, or 0.25%, to 13,359.78. The Standard & Poor's 500 index was up 1.00, or 0.07%, at 1,506.85, and the Nasdaq composite index lost 5.28, or 0.21%, to 2,556.94. Bonds were little changed, as many investors stayed on the sidelines ahead of Tuesday's economic data. The yield on the benchmark 10-year Treasury note was at 4.68%, unchanged from late Friday.


9:45AM U.S. markets opened higher on merger activity.

Wall Street opened in the positive amid strength in the automotive sector, generated by news that DaimlerChrysler AG said it will sell 80.1% of struggling Chrysler to Cerberus Capital Management LP for $7.4 billion. Among blue-chip stocks, General Motors Corp. (GM: chart) jumped 5.7%, while Ford Motor Co. (F: chart) gained 4.5% on reports that the Ford family is planning to sell part of its controlling stake in the company. Again on the Dow, Johnson & Johnson (JNJ: chart) rose 1%, following a court ruling that Teva Pharmaceutical (TEVA: chart) infringed on a patent for Aciphex, an anti-ulcer drug co-marketed by Johnson & Johnson. Dow member Home Depot Inc. (HD: chart) gained 1) ahead of earnings release on Tuesday.

In other deal news, Mylan Laboratories (MYL: chart) fell 11% after it agreed to pay $6.7 billion for the generic drug-making arm of Merck KGaA. Cardinal Health (CAH: chart) said it would pay $1.5 billion for Viasys Healthcare (VAS: chart) in a deal representing a 35% premium to Friday's close. Dow Jones industrial average rose 48.68, or 0.37%, to 13,374.90. The Standard & Poor's 500 index was up 4.33, or 0.29%, at 1,510.18, and the Nasdaq composite index gained 6.25, or 0.24%, to 2,568.47. Bonds were little changed, as many investors stayed on the sidelines ahead of Tuesday's heavy schedule of economic data. The yield on the benchmark 10-year Treasury note was at 4.67%, slightly lower than 4.68% late Friday.


9:00AM Stock futures pointed to a steady opening.

U.S. stock market futures were indicating a steady opening on Monday, reflecting cautiousness after Friday's big rally sparked by hopes for rate cuts. Investors were also awaiting tomorrow's release of Consumer Price Index for April, as well as data from the National Association of Home Builders.

Merger-and-acquisition activity attracted little attention in pre-market trading. DaimlerChrysler (DCX: chart) rose 3.7% after a private-equity fund agreed to buy 80.1% of its Chrysler Group for $7.4 billion. The Big Three automakers will also be in focus, with General Motors (GM: chart) rising 1.9% in pre-market trading and Ford Motor Co. (F: chart) gaining 3.6%. According to a report, Ford''s founding family is planning to sell a controlling stake.

In other deal news, Mylan Laboratories (MYL: chart) fell 2.2% in the pre-open after it agreed to pay $6.7 billion for the generic drug-making arm of Merck KGaA. Further in M&A action, Cardinal Health (CAH: chart) said it would pay $1.5 billion, or $42.75 a share for Viasys Healthcare (VAS: chart) in a deal representing 35% premium to Friday's close. S&P 500 futures declined 1.6 points at 1,510.60 and Nasdaq 100 futures eased 0.75 of a point at 1,909.75. Dow industrial futures declined 9 points.


8:45AM Asian markets close higher Monday on Japanese exporters.

Asian markets ended mostly higher Monday. The Nikkei 225 index in Tokyo closed 0.7% higher to 17,677.94. Among the main advancers in Japan, Toyota added 4.7%, Eisai surged 13% after announcing Friday that it won a patent infringement lawsuit in the U.S. over its Aciphex ulcer treatment. Sanyo Electric stated it will strengthen its product quality control and implied its solar and battery operations will be a major focus this fiscal year. Sanyo Electric ended flat in Tokyo.