Yesterday’s big rebound faded away overnight as disappointing results out of Amazon.com and the first case of Ebola reported in New York City dampened enthusiasm. So far this morning, US indices and USD are down only slightly but appear vulnerable. Whether the NASDAQ holds 4,000 or drops back above it may give a good indication of the bulls conviction. Technology trading could be active with Amazon potentially under pressure following a big earnings and guidance miss, Apple trying to hold it $104.00 breakout point and Facebook bumping up against $80.00 and its own all-time high resistance. European indices, meanwhile, are trading moderately lower as UK GDP slowed a bit as expected with the continent providing a drag on the island nation’s economy. Traders also appear cautious ahead of Sunday’s European bank stress test results. With USD and stocks levelling off again today gold and JPY have bounced back a bit but the strongest currencies have been the resource dollars (AUD, CAD and NZD) which continue to benefit from yesterday’s flash PMI numbers which indicated economies in China and Germany aren’t as bad off as had been feared. Crude oil has given back some of yesterday’s gains but WTI remains well above $80.00. Corporate News Amazon.com ($0.95) vs street ($0.76), guides Q4 revenue to $27.3B-$30.3B below street $30.8B and operating earnings to ($570M) - $430M below street $475M Pandora Media $0.09 vs street $0.08, guides Q4 revenue to $273-$278M down from Q3 $239M, guides Q4 adjusted EPS to $0.17-$0.19 UPS $1.32 vs street $1.28 MicroSoft $0.54 vs street $0.48 Ford $0.24 vs street $0.19 Economic News Economic reports released overnight and this morning include: UK GDP 3.0% as expected down from previous 3.2% UK 3M services index 0.8% vs street 0.9% Italy retail sales (3.1%) vs previous (1.5%) NZ trade balance ($1,350M) vs street ($625M) South Korea GDP 3.2% vs street 3.3% Singapore industrial production (1.2%) vs street (0.4%) Economic reports due later today include: 10:00 am EDT US new home sales street 470K