Futures Dead Flat to Open, Waiting on Greece

Wednesday, February 10, 2010

  • Tokyo followed the US higher adding a marginal 0.3%; London is currently trading over 1% higher. US equity futures are flat. Greece's debt woes continue to make headlines across the world and are causing dramatic movements in the euro. There are a lot of circulating rumors and nothing is for certain. For now, it looks as if some members of the European Union will provide loan guarantees as the EU will not provide direct aid and vetoed possible IMF involvement.

  • Baidu (BIDU) is on every trader's radar this morning gapped up 38 points (8.6%) after beating estimates by 20 cents per share and offering greater than expected guidance for Q1.

  • Paulson and Buffett had a great public meeting at the Omaha Chamber of Commerce yesterday rehashing some of our greatest fears in the dark days of the Panic of 2008. The event was largely used to promote Paulson's new book, On the Brink, but is well worth watching to recall just how badly we were panicking.

  • Honda is recalling 379,000 cars for airbag problems. The hits just keep on coming for these automobile companies.

  • Ben Bernanke will present his written testimony in Washington DC outlining his plans to exit the extraordinary actions that have been taken. We will see how the economy endures throughout 2010 as expansionary policies are reined in.

  • Snowing pretty good here in NYC, guess they were right this time.
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