US stocks managed to notch a modest gain today, with Wall Street cautious ahead of tomorrow’s jobs report but hopeful that the global financial system is on the mend.

Merck & Co, the maker of the Zocor cholesterol medicine, said first-quarter profit rose 4.8% as the company cut costs.

PFIZER INC, the world’s largest drugmaker’s €53.7bn takeover of Pharmacia Corp is not expected to result in any jobs losses at the enlarged company’s Irish production plants employing close to 1,500 people.