Pre Market - September 18th 2007

Lehman (LEH) came out and beat their estimates for the quarter. The estimates were already lowered substantially so perhaps the estimates were too easy to beat. But that is a subject for another day. The statement released by LEH painted a picture and they could have given it the title of "not so bad". So how will this play into the FOMC decision?

Best Buy (BBY) issued a surprise and issued an upside to their sales and quarterly results. This is considered a surprise as it was expected the market would see some additional evidence of a weakening consumer spending. It is of course only one company but could the Fed look at that too?

PPI came in and it was supportive of a rate cut.

So where are we? Right where we started. Confusion to the max. 2:15 pm today. Will be a crazy day!