Good morning. Premarket futures are holding steady and point to a higher open as oil pulls back and investors feel & hope that the negative reaction to Friday's jobs report was overblown. As expected, Lehman Brothers (LEH) preannounced a massive $2.8 billion second quarter loss and announced plans to raise $6 billion in capital.
Premarket gainers: VRTX, HOKU, TWTI, HEV, XIDE, UAUA, TWTI, CSIQ, XOMA, SOLF, SWKS, AAUK, GEOI, MCD, MOS, POT, CIT, PEIX, WM, CPST, BUCY, & DRYS.
Premarket losers: ROYL, LEH, TASR, AMLN, ICON, RBS, UBS, SIGM, GOLD, XL, BCS, & MER.
The market will be looking for some stabilization from the housing market with the 10:AM report on pending home sales. We also have lots of Fedspeak from Bernanke, Geithner, & Fisher. Technically, all eyes will likely be on the Nasdaq this week. Among many things, something to watch as we start out the new week is how the technology stocks perform. Both the 50 & 200 day moving averages should serve as support if this is only a temporary setback:
Let's make it a great week!
