the futures market went UP when the merill news came out this morning and jobless claims were reported - people were expecting bigger sub-prime writeoffs by merill and higher jobless claims.
then the philadelphia manufacturing index came out at a six year low and ben bernanke started flapping his gums on the telly.
has anyone been paying attention to the stock market carnage over the past couple of weeks?
a recession is being baked in by the markets.