Ahead of the Bell: Dow futures are trading up 5 points and S&P futures are trading up 2 points. Global shares are buoyed by M&A activity, speculation of QE by the ECB, and China's central bank action. Merger activity in the pharmaceutical sector involving Eli Lilly, GlaxoSmithKline, and Novartis and Valiant Pharmaceuticals International Inc., and Allergan Inc., are lifting futures trading after markets in Germany, England, Hong Kong, and Australia reopened following the Easter holidays. There is rising expectations among investors of further policy easing by the European Central Bank after the region reported inflation is running at 0.5%. China's yuan fell to its lowest level in 14 months against the dollar, after the central bank set a lower official midpoint of its trading range, highlighting its desire for a weaker currency to manage an economic slowdown.