Before the Open

Markets are set to open higher on the heels of higher prices in Europe as their banks write offs are less than expected.

Crude trading down $1.5 while gold is off $26 to $897 as the dollar strengthens while the EURO weakens.

The 10 year Bond is trading at/near 3.51% and if folks decide they want out of low yield bonds into more risky stocks- it could be a rip higher.

The futures on the SPX are pointing to an open near the 1340 level which is a hair above the SMA 50- so it will be interesting to see if it holds above those levels.

In the pre markets-

GS +3.3% LEH +10% MER +6%WB +3.7% HES +8% RIMM +2.5% C +6% JPM +4%;