Premarket US equity futures signaling a moderate bounce when regular trading begins. Stocks in Europe are generally stronger, while Asian markets were mostly lower overnight.
A more subdued economic data calendar this week with just a few highlights, including today’s September ISM services index reading due at 10:00 a.m. August consumer credit comes out Wednesday afternoon, and Thursday we’ll get a look at September chain-store sales. Alcoa gets the 3Q earnings reporting season underway Wednesday after the market closes.
S&P futures up 5.60; DJ futures up 41. Ten-year a little higher, yield at 3.21%.
NYU’s Nouriel Roubini’s getting some press this morning, although we’re not sure exactly why. Dr. Doom said the market’s have gone up “too much, too soon and too fast,” which doesn’t exactly strike us as an earth shattering revelation. “I see the risk of a correction, especially when the markets now realize that the recovery is not rapid and V-shaped, but more like U- shaped. That might be in the fourth quarter or the first quarter of next year.”
