David Waring

Bloomberg: U.S. Stock-Index Futures Drop; Wal-Mart, UAL Fall in Europe - Futures on the S&P 500 expiring in December lost 15.1 points, or 1.6 percent, to 925.90 at 11:46 a.m. in London, on speculation reports on consumer confidence and housing will add to evidence the economy is in a recession.

On the economic calendar this morning we have housing starts (expected 878K) due out at 8:30 AM EDT, and the U of M Consumer Sentiment Survey (expected 68) due out at 10:00 AM EDT.

More on the Financial Crisis:

Bloomberg: Dollar Libor Falls, Marking First Weekly Drop Since July on Cash Infusions

Bloomberg: Stock Gyrations May Roil Trading as 80 Million U.S. Options Set to Expire

CNNMoney: Mortgage rates spike

Marketwatch: Volatile equities lift yen, support dollar - The dollar index was at 82.368, up slightly from 82.287, as Risk aversion remained the key theme for foreign exchange markets Friday.

Bloomberg: Oil Rises From 13-Month Low on Speculation OPEC Will Cut Supply - Crude oil for November delivery rose as much as $3.17, or 4.5 percent, to $73.02 a barrel, and traded at $70.98 at 12:12 p.m. London time, on speculation OPEC will announce production cuts at a meeting next week.

Reuters: Gold eases below $800/oz as dollar firms - Gold eased below $800 an ounce on Friday, extending the previous session's 5 percent price drop, as a firmer dollar pressured the metal.

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Disclaimer: Trading is risky and can result in substantial financial loss. As always my posts are simply one traders opinion and should not be taken as trading advice. I am not a financial adviser so everyone please do their own analysis and take responsibility for their own trades.