MorningMarket Update: March 10, 2010

U.S. stock futures are trading higher Wednesday as investors await M&A news and wholesale inventory data. Wholesale inventories for January are due for release today. In corporate news, Facet Biotech (NASDAQ:FACT) may be in the spotlight on news that Abbott Laboratories is purchasing the company for $722 million. The Children's Place Retail Stores (NASDAQ:PLCE) reported fiscal Q4 EPS of $1.03, ex-items, inline with consensus estimates. Revenues for the quarter rose 5% year-over-year to $462.8 million, inline with the consensus estimates. The Dow Jones Industrial Average (DJI) futures are trading 6.00 points above fair value, the S&P500 (INX) futures are trading 0.60 points above fair value, and the Nasdaq Composite (IXIC) futures are trading 3.25 points above fair value.