It's amazing that BofA is trading up early in Europe after selling $13.5 billion of stock last night after the market close. That's a lot of stock and clearly sends the signal that the banks are out of the woods.
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Hewlett Packard reported basically in line but there were some disappointing elements to the quarter- demand is weak, nobody prints any more etc. It looks like the stock will trade down a little today, at least at the open, but not much has changed for the longer term.
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Futures are up a little as a welcome long weekend inches closer.
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I'm very interested to see what will happen in California now that Schwarzenegger's budget bells and whistles failed yesterday. California needs to get help from somewhere and I don't think New Jersey's deficit problem is much better.
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