Before the Open (Sep 11)

Good morning. Happy Tuesday.
The Asian/Pacific markets closed mixed. China and Japan dropped; India moved up. Europe is currently down across-the-board. Greece is down 1.9%; Austria and the Czech Republic are down 0.7%. Futures here in the States point towards a moderate gap up open for the cash market.

The dollar is down. Oil and copper are flat. Gold and silver are up.
The big news this week remains; 1) Germany’s Constitution court will rule on legality of Europe’s bailout fund tomorrow, and 2) There’s an FOMC annoucement Thursday. Yesterday the market was slow until some selling hit the last 90 minutes. Unless something leaks, I’d expect today to be slow too.
Burberry warned its Q2 earnings would come in at the low end of analysts’ expectations – the stock is down almost 20%.
The U.S. Treasury sold $18B worth of AIG stocks at $32.50/share.
MCD gives its monthly sales report today.
TXN gives its mid-quarter update today.
The mass exoduse of executives at ZNGA continues. Their chief revenue and marketing officer has resigned.
SHFL missed earnings expectations.
CASY beat expectations – the stock is up 7% before the open.
HPQ is going to lay off 29K employees instead of 26K; Philips is cutting 2,200 jobs on top of the 4,500 already planned.
The market is in pretty good shape right now, but traders want to see how the market reacts to the two major events coming the next two days before getting very active.
headlines at Yahoo Finance
headlines at MarketWatch
today’s upgrades/downgrades
this week’s Earnings
this week’s Economic Numbers