ITV posted a good set of numbers despite lower revenues from advertising. 300 million pounds is going back to shareholders, there will be a new channel and the pension deficit has been halved.
The U.S. equity futures market looks in good order and maybe this could be a session where some much needed progress can be made. The key economic data of the week is posted today.
The (European) markets on Wednesday are buoyed by some fantastically good figures from SAP, which have come on the back of things improving in New York and then that was followed through this morning by some very good (technology) performances in Tokyo.
This is obviously very good news but this might be treated with a certain amount of caution as Fed bankers did not know that oil would go to $72 a barrel when they made these comments.
Though interest rates are expected to continue their rise in an orderly manner, the U.S. economy continues to look robust. So perhaps the piles of cash that are waiting in the wings will be put to good use as we head toward Thanksgiving and the New Year.
We've seen an outstanding performance by the FTSE, the DAX and the CAC during the month of September, which is notoriously not a very good month.
Michigan Sentiment may be the key to activity today. Otherwise it may be a case for waiting for some confessional news next week and the next quarter's results from Morgan Stanley, Bear Stearns and Lehman Brothers often a good barometer of economic and business activity.