The Market On Thursday

Futures are up this morning and in this recession we know this has little relevance for how the market will look at 4PM.

Auto parts maker Visteon has filed for bankruptcy. This is a clear sign that GM is soon to follow. It will be interesting to see what remains after the bankruptcy.

GM is an integral part of the American landscape, its like something equally as important, oh say the Republican Party for example, suddenly announced it was disbanding. What a devastating loss that would be...

Reuters: Stock futures signal rebound on Wall Street

President Barack Obama said the U.S. economy was past the worst. "It's safe to say we have stepped back from the brink," Obama told a fundraiser in Beverly Hills. "There is some calm that didn't exist before."

Also on Reuters is another article by Roubini. I like Roubini, he prepares you for the worst. This is my new recession motto, remain optimistic but expect the worst.

Needless to say Roubini is not in the recession ends at the end of the third quarter '09 camp. He's talking first quarter 2010.

I suppose the good news is that he actually sees an end to this thing. The great recession seems like it could go on forever.

Reuters: Roubini says U.S. economy may dip again next year

"I still expect that economic growth in the U.S. is going to be negative through Q4, and that we'll see positive growth in Q1..."

"Compared to the current consensus that says we are practically at the end of the recession ... my view is: no, it's going to last another six to nine months before it's over."