Last Update: 03-Nov-09 09:15 ET

Market is Closed
 [BRIEFING.COM] S&P futures vs fair value: -7.70. Nasdaq futures vs fair value: -9.00.  Stock futures continue to trade with weakness as considerable selling weighs on foreign markets and the U.S. dollar makes a heady 0.6% climb to its best level in nearly one month. However, stock futures have managed to pare their premarket losses. The improved position comes on the heels of news that Berkshire Hathaway (BRK.A) will pay a mix of cash and stock worth $100 per share for rail company Burlington Northern Santa Fe (BNI) in a move that Warren Buffett has essentially labeled a bet on the U.S. On a related note, Berkshire has announced that it will split its B shares (BRK.B) 50-for-1. There have only been a few other announcements from widely-held companies to complement Berkshire's news. Among them, MasterCard (MA) posted this morning better-than-expected adjusted earnings for the third quarter. Its shares are up fractionally ahead of the opening bell. Also, Dow component Johnson & Johnson (JNJ) reaffirmed its in-line outlook for fiscal 2009, winning it modest favor in premarket trade. There hasn't been any economic data out yet, though a small dose comes at 10:00 AM ET with the release of September factory orders. The FOMC also starts its 2-day meeting today, but it won't issue any official statement until tomorrow.
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