Don't Bite The Hand That Feeds You

[BreakoutÎnvestments]

08:00 am : S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: -8.50. S&P 500 futures suggest a flat start, while the Nasdaq is set to underperform, ahead of testimony before the Senate Banking Committee at 9:30 AM ET from Fed Chairman Bernanke, Treasury Secretary Paulson, and SEC Chairman's Cox. The financial officials will address the current financial market turmoil. Bank of America (BAC), Citigroup (C), JPMorgan Chase (JPM), Wachovia (WB) and Wells Fargo (WFC) all had their earnings estimates cut at Oppenheimer. Bristol-Myers Squibb (BMY) increased its offer to acquire Imclone (IMCL) to $62 per share, or $4.7 billion, from $60 per share. BMY owns 16.6% of all outstanding shares of IMCL.

06:43 am : S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: -0.20.

06:33 am : S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: -0.20.

06:33 am : Nikkei...Holiday......... Hang Seng...18872.85...-759.40...-3.90%.