Wake Up Call - Feb 9

Good Morning. At 9:28 a.m. EST, U.S. markets look poised to open modestly higher, buoyed somewhat by a positive consumer confidence reading. Shares really lack conviction this morning and could take their lead from the day's events rather than pre-market news. Two factors that could drive today's market include St. Louis Fed Chief William Poole's discussion on the state of the economy and a conference in Munich on global security.

Asia:
Hang Seng Index -0.28%; Shanghai/Shenzhen 300 -0.55%; NIKKEI 225 +1.23%; BSE SENSEX 30 -0.77%; KRX 100 +0.39%; Ho Chi Minh -2.09%

U.K. & Europe:
DJ STOXX 50 Index +0.43%; FTSE 100 +0.53%; CAC 40 +0.54%; DAX +0.52%; Russian RTS Index +0.69%

KEY HEADLINE NEWS

• The RBC Cash Index showed consumer confidence at a high 103 in February, compared to 95.3 in January, the best its been since September 2004.
• Alcatel-Lucent joined the ranks of large American firms recently reducing their workforces, as they announced they will increase job cuts by 39%, to include 12,500 employees. This follows a fourth quarter loss and declining revenue.
• Fortress Investment Group will become the first hedge fund to go public, as its investment bankers price its shares today at $18.50.
• Nobel laureate Mohammed ElBaradei sees the Middle East in disarray. He warns against stubborn actions and rhetoric and encourages intelligent conversation.
• European shares are recovering today, after the ECB signaled yesterday that it may raise rates in March, sending European stocks downward yesterday.

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Check back in later this morning, as "Today's Morning Coffee" will outline in greater detail the day's activity in overseas and commodity markets, and provide economic data & analysis and stock specific news. (disclosure)