Just a week after swallowing a $5 bln chunk of Goldman, Warren Buffett is back at the buffet, scooping up $3 bln in GE 10% preferred stock. GE will also issue $12 bln in common shares to the public.
Another industrial icon, General Motors is making news with sales down 16% in September. Toyota was even worse, down nearly 30%.
EUR/USD is firming as awful economic data combined with the car sales is beginning to offset European credit jitters to an extent. It trades at 1.4070. a sticking point this afternoon. A failure to establish itself above that level should see EUR/USD drift off into the close.