Futures point to a significantly higher open, while market participants await the key drivers this morning. The FOMC announcement will be at roughly 14:15 ET. Fed funds futures are fully pricing in a 100 basis point cut and suggest a 12% chance of a 125 basis point cut. Lehman Brothers (LEH) and Goldman Sachs (GS) are set to report earnings this morning. On the economic front, February PPI and February housing starts are set for released at 8:30ET.
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