US stocks are being propelled towards a higher open on Wednesday by enthusiasm over a mega-merger of Kraft Foods and HJ Heinz which will create the third largest food and beverage company in the US. The combined company is to be named The Kraft Heinz Company with Heinz shareholders making up 51% of ownership and Kraft the remaining 49%. Berkshire Hathaway and 3G Capital are the brains behind the deal which hopes the larger market share and cost synergies of the new entity will create value for shareholders. Earnings at both companies have come under pressure with Americans shying away from processed foods so it’s unclear how the move would diversity the companies away from what seems to be a market segment on the decline. Stocks in the US closed lower on Tuesday as better than expected economic data raised uncertainty over interest rate policy and resulted in a stronger dollar. Currency movements will likely be focus again on Wednesday ahead of the durable goods report for February which showed some signs of a turnaround in January after declines in the fourth quarter. If recent market movements are anything to go by, another strong economic report could put US equities under pressure because of the possible implications for tighter monetary policy. Google shares were on the rise yesterday on the news of the appointment of a new CFO but may be at risk of profit-taking on Wednesday following a meeting between the search giant’s executives and White House officials as the government concludes its antitrust investigation of the company. Futures suggest the: S&P 500 will open 3 points higher at 2,094 with the Dow Jones expected to open 26 points higher at 18,037 and the Nasdaq 100 12 points higher at 4,442. CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.