Hurricane Watch

Good morning. The market remains on hurricane watch as Gustav is currently on track to hit Louisiana early Monday as a category four hurricane. Fortunately, a better than expected durable goods report and dovish commentary by the Fed's Lockhart have helped offset the hurricane concerns and premarket futures rallied following the report.

In other news, Page One of the Wall Street Journal focuses on how banks are going to pay off billions of dollars of debt coming due as short sellers flee away from financials and big cap tech.

Premarket gainers: FRE, FNM, IKN, INCY, PDO, DVR, MTG, TMX, SYNO, PMI, HAIN, UNG, NXG, CVA, USG, ALU, NGAS, & ACH.

Premarket losers: CEGE, ALNY, AMLN, NEXM, SOLR, DNDN, SOLF, TSYS, UAUA, NWA, AMR, SQNM, TLB, CHRS, JCG, QELP, & VCLK.

Along with latest Hurricane developments, the only datapoint of concern is the 10:35 weekly energy inventory report. Once again, we should expect a close correlation between oil prices and equities along with continued low volume trading for the remainder of the week. Have a wonderful Wednesday!