G 20 to the Rescue?

It was just reported that new FASB guidelines will take effect Q2 2009, not retroactive to Jan 1 and definitely not retroactive back to Jan. 2008 as was the chatter in the rumor mill yesterday.

I think it’s fair to say that we will know early on what the mood will be in the market today. Not much else to report yet so let’s watch the headlines. Good luck today.