Abet Chichi2

[bob3]

08:00 am : S&P futures vs fair value: -2.40. Nasdaq futures vs fair value: -3.30. Stock futures lag fair value ahead of Friday's opening bell. After yesterday's close The Washington Post reported the Treasury and the Fed are working on the sale of Lehman Brothers (LEH) through a consortium of firms. The report followed word that from The Wall Street Journal that Bank of America (BAC) is in talks with Lehman. Meanwhile, Reuters reported the Treasury will guarantee the debt and mortgage backed securities of Fannie Mae (FNM) and Freddie Mac (FRE) until at least 2010. Washington Mutual (WM) announced its capital levels surpass the well-capitalized level for the third quarter and expects provisions to be around $4.5 billion for the quarter. It also stated it has a strong liquidity position of $50 billion. Credit rating agency Fitch downgraded WaMu to BBB- and gave the firm a negative outlook