drew barrymore
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Good morning. Here's what you need to know.
  • Asian markets were mixed in overnight trading with the Nikkei down 0.12 percent closing at a three-week low. Europe is rallying and U.S. futures are modestly higher.

  • New York attorney general Eric Schneiderman has filed a civil suit against JP Morgan over mortgage-backed securities that were sold by Bear Stearns. JP Morgan bought Bear Stearns in March 2008.
  • Australia's central bank cut interest rates to 3.25 percent as the nation's economic growth is being impacted by the slowdown in China, a strong currency, and declining export prices. 

  • Samsung has filed its own patent lawsuit against Apple. The company claims that the iPhone 5 infringes its patents. This lawsuit has been added to an existing patent-infringement lawsuit in California. 

  • Data from the Spanish labor ministry showed that the country's jobless rate increased by 1.7 percent in September. There are now 4.7 million people out of work. Meanwhile, Moody's has said the capital shortfall faced by Spanish banks could reach €105 billion.

  • Motor vehicle sales for September will be out today. Economists polled by Bloomberg expect an annualized 11.5 million units in domestic vehicle sales, and 14.5 million annualized total vehicle sales.


  • Reuters has reported that Spain is ready to ask for a bailout by next weekend, but Germany has suggested that the country wait.

  • There is a report in Der Spiegel that raises doubts over the legality of Mario Draghi's bond buying program. There are rising concerns that it amounts to direct central bank financing of governments.