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Positive Futures Open Thread

This looks awfully familiar:




What does this mean? Are we going to rock and roll this week? Or is this a sucker play?

Was our Friday noon Buy call timely, or is there more downside acomin' ?

What say ye?

Sunday, October 12, 2008 | 07:57 PM | Permalink | Comments (105) | TrackBack (0)
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U.S. Stock Futures Gain on Bank Plan, Comments by Fed's Fisher

U.S. equity futures gained after the worst week for stocks in 75 years, boosted by the government's plan to buy stakes in banks and a Federal Reserve official's pledge to ``consider every option'' for restoring confidence.

The statement by Dallas Fed president Richard W. Fisher came as European leaders agreed to guarantee deposits and use government money to prevent lenders from collapsing. Concern frozen credit markets will spur a global recession sent the S&P 500 to the lowest level since the start of the Iraq War last week and has erased $25 trillion for world stock markets in 2008.

S&P 500 futures expiring in December added 28 points, or 3.1 percent, to 919 as of 7:39 a.m. in Tokyo after the index slid 18 percent last week, its worst drop since 1933. The euro climbed the most in three weeks against the dollar and yen following the measures announced by European leaders in Paris.

Posted by: Eric Martin and Jeff Kearns | Oct 12, 2008 7:59:53 PM