North American stock markets are poised to rise Tuesday after a Canada Day long weekend that featured a huge takeover deal for BCE Inc.

On Saturday, Ontario Teachers’ Pension Plan announced a $51.7 billion move to acquire the country’s biggest telephone company, endorsed by BCE management.

However, BCE’s stock may trade above Teachers’ $42.75 offer as U.S. buyout firm Cerberus Capital Management and Telus could make a competing bid.

There are no major economic releases from Statistics Canada today.

The Canadian dollar opened at US94.47¢ this morning, up 0.61 of a cent from Friday’s close.

Auto makers will release their June U.S. sales results throughout the day. Analysts are looking for the seasonally adjusted annual-sales rate to perhaps approach 16.8 million cars and trucks, compared with about 16.2 million a year earlier. But General Motors and Ford Motor may report sales declines.

U.S. economic reports on May factory orders and May pending-home sales are expected at 10:ET.

In M&A news, Kraft Foods said it has made a binding offer to buy the global biscuit business of Groupe Danone for US$7.2 billion.

Crude-oil prices slipped 5¢ to US$71.04 a barrel.

Overseas, the Hang Seng rose 1.7% as traders returned from a three-day break in Hong Kong, and the FTSE 100 rose 0.7% in London.

On Monday, U.S. stocks rallied helped by surprisingly strong manufacturing sentiment and by Treasury yields that fell under 5% for the first time since early June.

The Dow Jones industrial average rose 126.81 points to 13,535.43 on the first trading day of the third quarter. The S&P 500 added 16.08 points to 1,519.43, and the Nasdaq Composite Index rose 29.07 points — 1.1% — to 2,632.20.

U.S. markets will be closed tomorrow for the Independence Day holiday.