S&P futures vs fair value: +8.0. Nasdaq futures vs fair value: +12.5.

Wednesday, March 5, 2008

Futures indicate a higher start. Costco (COST), BJ Wholesale (BJ), and Big Lots (BIG) all reported earnings results that either met or beat earnings expectations. Continued talk regarding a bailout for Ambac (ABK) flutters across the wires. CNBC reports a deal could be finished today. Additionally, Fannie Mae (FNM) was upgraded by Morgan Stanley to Equal Weight from Underweight. Due at 8:15 AM ET is the February ADP Employment report.