With Europe heading for the exits the market will only thin further (if possible), this afternoon. Attention will shift to the Obama news conference with investors attuned to his comments on the economy, taxes and automaker bailouts. Should he signal a delay in tax hikes on capital gains and high income earners, the equity markets should rally further.
Just crossing the wires is news that GM is suspending talks with Chrysler on a combination, focusing first on its own survival.
