U.S. equities rebounded from lows
U.S. equities rebounded from lows into positive territory ahead of key events, including the Beige Book report later and the final presidential debate tonight. Housing starts plunged 9% in September, though this seems to have been taken in stride by investors. Morgan Stanley climbed after beating estimates thanks to a profitable quarter in bond trading, as profits jumped 57%. Fixed income trading revenues surged to $1.5 B, while equities rose to $1.9 B. The Dow is 40-points firmer, S&P gained 4-points and NASDAQ is up 4-points as well ahead of the bell. This came in the wake of marginal gains in Asia with a 0.9% rise on the MSCI AC Asia Pacific index, while Japan's N-225 was 0.2% higher and the Shanghai Comp was flat. In Europe, the Euro Stoxx 50 is flat ahead of tomorrow's ECB meeting. AMEX and Kinder Morgan earnings are due after the close. WTI crude has rebounded to $51 bbl.