Don't Fight The Fed

Good morning. Premarket futures are pointing to a higher open following strength in overseas markets.

Investors are sorting through a plethora of earnings reports and a much stronger than expected report on durable goods orders ahead of tomorrow afternoon's highly anticipated rate cut.

Premarket gainers: LXK, QMAR, ZMH, VLO, NOVL, ARG, CFC, NOVL, JBLU, TBSI, LLY, DRYS, AKNS, ELRN, LOGI, AGU, AAUK, SEED, MELI, ALVR, GERN, TASR, ADCT, TTWO, CSIQ, POT, SIMG, XMSR, MOS, CHTT, SOLF, CROX, CRNT, MEDX, and HOKU.

Premarket losers: VMW, ZRAN, NHWK, ICUI, SEPR, EMC, SNDK, CAH, AAI, LEAP, DISK, X, HW, CAH, SHPGY, and SII.

At 10:AM we have report on consumer confidence and later on some data on Treasury bill and note auctions.

We'll see how much the bulls are willing to press ahead with the don't fight the Fed mantra. Interesting, does today's strong reading on durable goods make Bernanke more or less willing to slash rates again? We'll know tomorrow afternoon.

Have a terrific Tuesday!