North American stocks appear poised to open higher Monday amid merger activity in the technology sector and a drop in oil prices.

Nokia Corp. and Siemens AG are combining their mobile-network operations to create a joint venture with annual revenue of about US$20 billion, a move that will help them compete with market leader Ericsson AB.

Crude-oil prices fell 50¢ to US$69.38 a barrel early Monday amid lingering worries over Iran’s nuclear ambitions and how that might affect oil supplies.

In today’s economic news, Statistics Canada reported that wholesale sales remained essentially unchanged in April after posting strong growth in March. Increased sales of consumer goods were offset by decreased capital spending.

The government agency said wholesalers sold $41.6 billion worth of goods and services in April.

Wholesale sales increased 0.1% in April after posting strong growth of 1.2% in March.

Separately, StatsCan said non-residents invested $3.9 billion in Canadian securities in April. This was outpaced by Canadian acquisitions of $4.7 billion of foreign securities.

In other M&A news, Canada Southern Petroleum Ltd. said today its board of directors is endorsing the cash offer of US$9.75 a share from Canadian Oil Sands Trust. The $165 million takeover offer tops two competing bids from Petro-Canada and Canadian Superior Energy.

In earnings news, Circuit City Stores reported a US$6.4 million profit for the first quarter, compared to a year-ago loss, driven by store improvements and booming sales of flat-panel TVs.

Nestle AG said today it is buying weight management and diet company Jenny Craig for US$600 million.

But European markets were mostly higher after the Nokia-Siemens deal.

In other news, Goldman Sachs has tapped Gary Cohn and Jon Winkelried to become presidents and co-chief operating officers, while John Weinberg will be named a vice chairman. The moves were triggered by CEO Paulson’s nomination for Treasury secretary.

Asian markets finished lower overnight.

Japan’s benchmark Nikkei 225 index fell 18.99 points, or 0.13%, to 14,860.35 on the Tokyo Stock Exchange.

In Hong Kong,the blue-chip Hang Seng Index fell 73.79 points, or 0.5%, to 15,768.86.

Toronto stocks closed slightly lower on Friday, reversing earlier gains sparked by bargain-hunters.

The S&P/TSX composite index finished down 5.21 points, or 0.05%, at 11,207.95.

GMP Capital Trust struck a deal to acquire private-equity firm EdgeStone Capital Partners LP for $62 million plus stock. GMP Capital Trust fell 75¢ to $22.50.

The junior S&P/TSX Venture composite index gained 28.64 points, or 1.12%, to close at 2,579.93.

In New York, U.S. stocks slipped after strong gains in the previous two sessions, as a warning from a Federal Reserve official about inflation gave investors more reason to think the Fed will keep raising interest rates.

The Dow Jones industrial average dipped 0.64 of a point, or 0.01%, to end at 11,014.55. The S&P 500 Index declined 4.62 points, or 0.37%, at 1,251.54. The Nasdaq composite index fell 14.20 points, or 0.66%, to 2,129.95.

For the week, the Dow rose 1.13%, while the Nasdaq slipped 0.24% and the S&P 500 declined by a marginal 0.06%.