The Market On Thursday

Futures are flat today. JP Morgan is showing a boatload of profit while lender CIT is on the verge of bankruptcy or worse. This is today's push and pull mixed in with a little recession strategic data due out later today.

Everyone is still talking that equities are in for a bit of a rally. Reviewing the list of quotes from portfolio managers and financiers this would seem to be the case. These people are also talking about the worst is past. Can we overstate the fact that evryone is jumpy and this jumpiness will continue.

Reuters: Stock futures flat as CIT angst offsets JPMorgan

JPMorgan's second quarter results topped Wall Street's estimates, continuing a stream of reassuring news on bank earnings after Goldman Sachs...