Morning call: Futures point slightly lower after yesterday’s blistering rally as all eyes turn to jobs. European stocks were slightly down in the morning and Asian markets ended higher.
Around the world: Obama heads to Asia,while China makes fun of the US ahead of the G20.
Mortgage pain: It could cost $700 billion to fix the US mortgage system and it could cost $685 billion to fix Fannie Mae and Freddie Mac. Despite election losses, the attorneys general investigation into robosigning will continue.
Econowatch: Ireland is brewing a bond crisis. Http://finance.fortune.cnn.com/2010/11/04/irish-bond-crisis-brewing/ US nemployment has probably held near 10%. Commodities are spiking. And gold prices dipped from their record high.
Wall Street recovering despite ongoing bank woes : October’s 132 IPOs generated $49.6 billion, the largest monthly amount ever, according to data from Dealogic. The previous high was $46.5 billion in 2007. The WSJ notes that, coincidentally, this also happened in October. Hedge fund bonuses are edging higher.
Good news for companies: Citigroup defeats Guy Hands. Toyota posts $1.2 billion net profit. GM thinks that GM is a very good investment opportunity.
Well, AIG is still having some problems.
What happened between Mark Hurd and Jodie Fisher? It gets a little weird…
In other tech: Dell dumps BlackBerrys and gives employees Dell-made smartphones.
Finally… This guy… he really wanted a turkey…