Stock futures are positive in early morning, indicating a similar start for stock markets in what many hope could be a continuation of the recovery from the recent global sell-off. Several big deals and upcoming economic news are in focus this morning.

Today there are no major economic reports but retail sales, PPI and CPI are scheduled to be released later this week and many will watch these closely.

Some economic news is coming out of Japan as it revised upward its GDP, or economic growth figures for the fourth quarter to an annual pace of 5.5%, the strongest growth in three years. Stocks in Asia generally closed higher while markets are mixed in Europe.

Several big deals are in focus this morning:

Schering-Plough Corp. (NYSE:SGP) agreed to buy a unit of Dutch chemicals and coatings maker Akzo Nobel NV for €11 billion (US$14.5 billion) in cash. The Organon BioSciences division is best known for making the Organon brand birth control medicines.

Sources say that the news conference set for later this morning by a bidding group that includes David Richards, is for the purpose of announcing it is buying a majority stake in Ford Motor Co.'s (NYSE:F) luxury car division Aston Martin for about 450 million pounds ($872 million) with Ford retaining a 15% stake.

Procter & Gamble Co. (NYSE:PG) said it has agreed to sell its Western European tissue/towel business to SCA, a global goods and paper company, for about $671.9 million in cash.

After Citigroup Inc. (NYSE:C) announced only last Tuesday its intentions to buy Nikko Cordial Corp. for $10.8 billion, the Tokyo Stock Exchange said today it would not strip Nikko Cordial of its share listing over an accounting scandal. This could affect the deals as shareholders might want to hold out for a higher price.

Halliburton Co. (NYSE:HAL) said it will move its corporate headquarters from Houston to Dubai.

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