The market is up 35. The SFE Futures suggested a 55 point rise in the market this morning.

The Dow Jones closed up 126 moving in a 128 point range and closed 1% higher on the back of takeover activity, encouraging economic data and declining bond yields. The Institute for Supply Management indicated a fall in the prices paid index, suggesting inflation might be easing, along with a better-than-expected manufacturing index for June. In takeover activity, BCE closed higher after accepting a $32.6bn offer from Ontario Teachers Pensions Plan Board, Virgin Media confirmed it had been bid for by private equity for $11bn and AT&T announced it would buy Dobson for $2.8bn. Trading volumes were down ahead of the Independence Day holiday on Wednesday, US markets will close early tonight as a result. The NASDAQ had a good session closing 1.1% higher.