Futures are selling off again this morning. Shares of AIG (AIG) are plunging again this morning, after Fitch and A.M. Best last night joined S&P in downgrading the co's ratings and placing it on credit watch. Shares of Goldman Sachs (GS) are off more than 10% after the co reported mixed Q3 results, as annualized return on avg tangible common shareholders equity fell to 8.8% from 23.5% in Q2. Outside of finance we have shares of Best Buy (BBY) down 9.0% after the co missed by $0.09. CPI fell for the first time since Oct '06, coming in as expected. Reminder - the highly-anticipated FOMC rate decision and policy statement is due out at 2:15 EST. Most economists expect no change, but fed funds futures are currently pricing in a 100% chance of a 25 basis point cut to 1.75%.
Gapping Up: Select airlins on lower oil UAUA, AMR, LCC,
Gapping Down: AIG, ING, WB, GS, UBS, MS, DELL, GE, GOLD, RSX, OI, BBY,
AAPL removed from Goldman conviction list.
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