Lackluster Headlines

Good morning. We're set for a slow start to the trading week amid a number of lackluster headlines.

As doubt grows over the Lehman takeover widely reported last week, bankers are concerned that the summer lull will continue past Labor Day. Over the weekend, the nation's ninth bank collapsed amid bad real-estate loans. Also, there's no fresh clarity on the Fannie & Freddie situation as many hoped would come to fruition over the weekend.

Investors are also watching oil prices as they try to rally again and we have some M&A activity this morning between Grey Wolf (GW) & Precision Drilling (PDS).

Premarket gainers: CTRN, LDK, ERTS, FEED, IGLD, TMA, PDO, LDK, CSUN, CF, NTRI, SOLF, BZH, GNTX, YZC, ABAT, AMD, PBCT, CLNE, & HOKU.

Premarket losers: FNM, LEH, FRE, ALXN, GILT, SCA, BIOD, HWAY, UAUA, MGM, CVC, AIG, NWA, AMR, CAL, SPLS, & RSH.

Along with financials and oil prices, the housing market will also be in focus especially early in the week. At 10:AM we have a report on existing home sales and new home sales reported tomorrow.

Let's make it a great week!