Markets calmed down overnight. While the dollar has been unable to recoup any its steep losses, the freefall did NOT accelerate overnight keeping gold in check (down less than $2) and U.S. stock futures little changed. Energy is holding on to a modest bid.
Investors are waiting for 8:30 ET Durable Goods and 10 a.m. existing home sales numbers and consumer confidence. 12:30 Helicopter-Ben will be speaking about the economic outlook and we'll hear from Chicago Fed President Moskow a little more than 4 hours later. Thus far, when Fed officials have spoken in recent weeks in tones to soothe dollar worries, they've gotten no respect from the markets.
Palm (PALM) cut its earnings forecast and pushed back the introductiuon of its TREO 750; PALM Is down 5%. Nokia (NOK) facing big network investment costs cut its margins forecast and is down 1%.
More on the day ahead after the 8:30 durables data.