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Stock futures lower ahead of consumer confidence

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Stock futures are lower this morning ahead of this week's report on consumer confidence. Today's number is expected to come in at a reading of 86.4, up from last months 85.5 level. Today's consumer confidence number is scheduled for release at 10:00 AM EST.

S&P futures are currently trading down 3.8 points at 1,151, NASDAQ futures are lower by 8 at 1,610 and Dow futures are off 30 points at 9,940.

Fair value for the S&P 500 today is $0.90. HL Camp & Company has their computers set for program buying at $2.32 and set for program selling at $0.52. Fair value for the NASDAQ-100 today is $2.80. (If you would like more info on program trading and fair value, please visit www.programtrading.com)

Goldman Sachs files registration statements with SEC

In a registration statement filed with the Securities Exchange Commission (SEC) Goldman Sachs (NYSE:GS) registered to potentially sell 14.1 million shares of common stock beneficially owned by SMBC Capital Markets and Kamehameha Activities Association.

This morning's earnings

Discount retailer Kmart Corp. (NYSE:KM) reported a loss for the latest quarter of $0.25, which was 3 pennies better than estimates for a loss of $0.28.

Also reporting earnings is clothing retailer Men's Wearhouse (NYSE:MW). The company missed estimates by a penny with earnings of 10 cents a share.

After the close of trading, medical device maker Medtronic (NYSE:MDT) will report earnings. Current estimates are for the company to earn $0.29 a share.

Jeff Bailey
Senior Market Technician
Option Investor

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