Stocks are set for a slightly higher open this morning based on a 35 point gain in Dow futures. Nasdaq futures are 8.5 points higher, and S&P 500 futures are 5.6 points in the green.
HL Camp and Company has fair value for the S&P 500 at $3.18. Buy programs are set at $4.52, and sell programs are ready to go at $0.84.
Stocks in Europe are doing well with the German DAX up 3.86%, the French CAC 40 2.46% higher, and the FTSE 100 posting a 0.77% in London.
30-year and 10-year bond yields are slightly lower this morning, but the five-year yield is up slightly.
Adept Technology (ADTK), AES Corp (AES), IMPATH (IMPH), Redback Networks (RBAK), Maxtor (MXO) and CMGI (CMGI) all issued profit warnings.
Nortel (NT) might attract some buying after an upgrade from Sanford Bernstein upgraded the stock to an outperform.
OPEC is blaming the decline in oil prices on market speculation. Normally the cartel would just cut production to bolster prices, but do not wish to exacerbate the global economic slowdown or aggravate the United States. Crude oil is up 27 cents to $22.48 at the NYMEX.