Opening Bell: 10.1.08

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Most Asian markets recover on hopes for US bailout (AP)
Really, do we even need a bailout anymore? We had an awesome day yesterday, the Asian markets did great last night, consumer sentiment is back on track, the rate of home price declines is slowing, and Christmas shopping is right around the corner. It's starting to look like we can just tighten the belts, get a few folks to stay in their homes, and then that $700 billion can be used on other stuff. Like bombers and spaceships and weird science projects. Or even just dedicate it directly to inflation, with no specific purpose. By the way, October already? Really?
U.S. Stock Futures Drop on Economy Concern; GE, Citigroup Fall (Bloomberg)
On the other hand, we may not be able to follow through. After paring some losses yesterday, today might be about paring that paring. It's all very geometric and Fibonacci. Still, nothing too major or drastic at this point. Just like a percent or so for the major indices.
WWE Maintains High Dividend Yield
Some vital info here: World Wrestling Entertainment would like you to know that it won't be chopping its dividend anytime soon. Got that? Some weaker companies, like banks, can do whatever they want, saving their money for purposes of capital preservation. But not so the WWE. If it may say so itself, in an actuall press release that came out last night: "The more than 9% dividend yield on WWE stock is 280% higher than the S&P average. WWE considers itself a safe harbor in the current volatile marketplace." From their lips to god's ears.


AL Central champ White Sox surprised even themselves (ESPN)
Sure, there won't be a subway series this year. But there may be an "L" series between the White Sox and the Cubs. Having once lived in the southern exurbs of the Windy City, our allegiance is obviously towards "The Good Guys" on this one.
BAILOUT.APPROVE.OCT08 (Intrade)
.93 on the dollar. That's how sure the markets are that a bailout will be approved this month. Of course, at one point, the markets were flashing a similar amount for a September bailout package, and we all saw how that went down.
Walmart Unwraps Big Christmas Values Early
Christmas season? Actually, it'd be great if we could suspend the festivities part this year. Sure, people can still go to Church and meet with family, but maybe the. government could tell people to "savior dollars" rather than spend them. Oh, and get this, Wal-Mart's press release is really subtitled: "In new survey shoppers say economic worries prompt them to make lists early, check them twice". Ah, capitalism.
24 Left (Poker Blog)
Here's Daniel Negreanu blogging from the World Series of Poker Europe. Evidently there are 24 left.

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