Don’t let the resurgence in M&A in the biotech sector pass you by. Bret Jensen shares his top five picks for likely acquisition targets in biotech.

The S&P 500 barely budged from where it began the week despite a slew of macroeconomic events, highlighted at home by the lackluster jobs report for May and abroad by the Japanese delay in its sales tax hike as well as meetings of the ECB and OPEC.

As we wrap up the month of May, here’s the tally: The Dow gained 14 points for the month, the S&P 500 gained 29 points, and the Nasdaq was the winner with a gain of 173. The 10-year Treasury was flat. Oil added $3 a barrel. Gold lost $78 an ounce.

Biotech stocks are pretty solid over two weeks probably anticipating ASCO news and helped by more M&A news. Since hitting a recent low of $258.90 on May 19 the IBB is up over 8% and 6% over five days to $279.77 yesterday.

The Dow Jones Industrial Average today fell more than 86 points as traders' expectations for a rate hike in June accelerated.

In after-hours trading on Monday shares of Celator Pharmaceuticals soared more than 300% as the company announced positive phase 3 results in a trial with patients with high-risk acute myeloid leukemia.

Wednesday Morning Pre-Market Insights: Himax Technologies, Inc. (HIMX), Netflix, Inc. (NFLX), Alcobra Ltd (ADHD), Celator Pharmaceuticals Inc (CPXX).