Preparing for the day

Tuesday, April 1, 2008

Despite seemingly negative news out of the financial sector, futures point to a higher start to the trading day. UBS (UBS) announced a new $19 billion in write-downs, and will be asking shareholders to approve a roughly $15.1 billion offering. Meanwhile, Lehman Brothers (LEH) said it is offering up to $3 billion of preferred stock. On the economic front, traders await the ISM Manufacturing Index at 10:00 ET.