Before the Bell news mail.
You've got to give Wall Street credit for trying. Despite the bloodbath of recent days, it's still trying to find a reason to move onward and upward.
And stock futures are pointing up after leading central banks greased the financial system with $180 billion in extra liquidity.
But the winds of change are still gusting. Suitors are reportedly circling Morgan Stanley, and sources say Washington Mutual has put itself up for sale. Potential buyers are taking advantage of the opportunities, with Wells Fargo Chairman Richard Kovacevich saying he feels like a kid in a candy store. Meanwhile, Britain's Lloyds has snapped up HBOS, the nation's biggest mortgage lender.
The dollar is down against an index of major currencies. Longer-term U.S. Treasuries are lower.
As for oil, well, it's closing in on $100 a barrel on the rebound in the global markets and those Hurricane Ike-related disruptions.
On the data front, we've got the Philly Fed business activity survey and weekly jobless claims.
Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart are testifying before the Senate Banking Committee.
Pier 1 finds itself facing increasingly choppy waters. The home furnishings retailer reported a bigger-than-expected quarterly loss and withdrew its fiscal-year outlook.
But FedEx has delivered earnings in line with Wall Street estimates and is sticking with its full-year forecast.
Until tomorrow,