Good morning. After last week's plunge, Wall Street is looking and hoping for a
relief rally to begin this week. For today, however, trading is expected to be on the light side primarily because of
Veterans Day, with the government bond markets closed and little economic and earnings data to ponder.
Overall, it has been a quiet morning so far. Investors seem to be focused on lower oil prices due to OPEC rumors, carry over weakness in overseas markets from last week's meltdown, some M&A activity (see Cognos (COGN)), and continued concern over the financials due to E Trade (ETFC).
Premarket gainers: COGN, SDTH, VDSI, MBT, BCS, IIJI, RBS, UBS, PCLN, RTP, BHP, CROX, VIVO, SPWR, JASO, ASUR, and ARAY.
Premarket losers: ETFC, GPCB, BX, NOK, DISH, FXI, HMY, FXI, NCC, GOLD, ASTI, XFML, CREE, JNPR, and JBLU.
The first step we need to see is simply for the market to find some stability and support to work from in the near-term. 1450 in the S&P is a starting point and we'll need to watch careful how the market responds to more bad news this week. At this point, not a lot of good news is expected. Have a great day!
