10 Things You Need To Know Before The Opening Bell, September 26, 2011

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Monday, September 26, 2011 Advertisement Good morning. Here's what you need to know. Asian markets were lower in overnight trading with the Nikkei falling 2.17%. Europe is higher and U.S. futures point to a sharply higher open. Talks between IMF and Eurozone officials are slowly leading to the creation of a rescue plan. It is expected to involve a 50% write-down of government debt and the eurozone bailout fund is expected to increase to €2 trillion. The plan could be finalized in five - six weeks. Meanwhile, German chancellor Angela Merkel has said euro-region leaders need to create a barrier around Greece to shelter the eurozone. Check out the complete guide to eurozone government debt burdens > As the eurozone debt crisis continues, there are mixed messages from the ECB about a possible rate cut. First, Bank of America said the ECB was planning a 50 bps rate cut on October 5, but the rumor was denied by ECB member Yves Mersch. ECB governing council member Ewald Nowotny however said talks of interest rate cut can not be excluded. German business confidence fell less than expected  to 107.5 in September, from 108.7 in August. Momentum in Europe's biggest economy is slowing, as the number dropped for the third consecutive month and is at its lowest since June 2010. Don't Miss: The 15 most bizarre economic indicators > Italian consumer confidence for September fell to 98.5 from 100.3 the previous month, and is at its lowest level in more than three years. This comes after prime minister Silvio Berlusconi pushed through two rounds of deficit cuts since July, to the tune of €100 billion. New home sales for August will be released at 10 AM ET. Consensus is for drop to a 294K annualized pace. Follow the release at Money Game > In commodities new, spot gold crashed to $1,532 an ounce before bouncing back and silver declined 16% to $26.07 an ounce, its lowest price since November. In tech news, Apple has cut its Q4 iPad orders from its Asian supply chain partners by 25% according to JP Morgan. Meanwhile, Netflix has signed a deal with Dreamworks to stream movies and television specials, and is expected to pay $30 million per movie. Now here are 15 stocks that everyone is shorting > UBS CEO Oswald Gruebel resigned Saturday after the board failed to back his plan to overhaul the bank’s strategy and corporate governance. This comes amidst the rogue trading scandal that cost the bank $2.3 billion. Europe head Sergio Ermotti will be stepping in as interim CEO. Boeing delivered its first revolutionary 787 Dreamliner yesterday, which had already been three years behind schedule. The company has 821 orders for the aircraft in  all. Meanwhile, Lockheed Martin, Boeing and Eurofighter have all submitted bids to supply Japan with fighter jets, in a deal that could cost up to $4 billion. BONUS - Molly Sims married Hollywood film producer Scott Stuber in Napa valley yesterday. Please follow Money Game on Twitter and Facebook. Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.wyldside@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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