Your MUST-READ Morning Stock Futures Cheat Sheet: Greece PM threatens resignation as ECB cuts 0.25%

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The Precise Take – Greece PM threatens resignation as ECB cuts 0.25%

Big Picture AnalysisYesterday’s FOMC announcement and press conference went as expect, with growth forecasts cut and hints provided of another MBS large scale asset purchase program.  Overnight, the markets have been event driven, with rumors and rumors-of-rumors out of Greece, and a 0.25% rate cut by the ECB, as we write.  Though heralded as a surprise, it was really not.  The Royal Bank of Australia also cut two days ago, and as we noted last week, the last two easing cycles commenced September 2008 and February 2001.  Headline risk remains high, so this is a market for seasoned day traders.

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Today’s  Scheduled News (all times EDT)

Major Market Movers
ISM Non-Mfg Survey at 10:00 am

Minor Market Movers
Factory Orders at 10:00 am

Tomorrow’s Scheduled News

Major Market Movers
Employment Situation at 8:30 am

Minor Market Movers
None