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5 Things You Need to Know Before the Stock Market Opens

BOSTON (TheStreet) -- The dramatic spike in Italian bond yields leads your quick fix of company, market, economic and investing news for Wednesday, Nov. 9.

Wednesday's 5 Biggest Stories

Silvio Berlusconi says he's going to stick around just a little bit longer for the austerity vote. The Italian 10-year bond yield spikes above 7.2%. This is not a coincidence. [NYT]

Greek Prime Minister George Papandreou is expected to offer his resignation at 10 a.m. New York time. [Reuters]

Even in Europe, banks will do whatever they can to avoid capital rules. Time to read up on "risk-weighted asset optimization." [Bloomberg]

General Motors (GM) says it earned $1.7 billion in the third quarter and the stock falls 5%. [Detroit Free Press]

Microsoft (MSFT) + Yahoo! (YHOO) + AOL (AOL). I'm totally sure Google (GOOG) is quaking in its boots right now. [WSJ]


Quote of the Day

"If we do not act, and act together, we could enter a downward spiral of uncertainty, financial instability, and a collapse in global demand. Ultimately we could face a lost decade of low growth and high unemployment," Christine Lagarde, head of the International Monetary Fund, said of the risks to the global economy. [Bloomberg Businessweek]


Company News

Interactive Brokers (IBKR) Chairman and CEO Thomas Peterffy bought 8 million shares of MF Global as the company fell into bankruptcy. [Bloomberg]

Stealing cars and shooting terrorists are extremely popular businesses. Just ask Activision Blizzard (ATVI) and Take-Two Interactive (TTWO). [Hollywood Reporter]

The fraud scandal involving Japanese camera maker Olympus grows more interesting by the day. [NYT]

Looks like the late Apple (AAPL) co-founder Steve Jobs was right. Adobe (ADBE) will stop developing Flash for mobile browsers. [ZDNet]


Markets

Bill Clinton and Newt Gingrich both admit they were wrong to repeal Glass-Steagall. [Slate]

Your good-news alert for today: Job openings hit a three-year high in September, which means companies are planning to hire. [Bloomberg]

Inflation? What inflation? The International Energy Agency says oil could reach $150 a barrel in the near term. [Reuters]


Investment Strategy

Taking a closer look at the financial sector. [Market Anthropology]

The hedge fund managers that millionaires trust the most. [Reuters]


Odds and Ends

How a financial professional lost his house. Occupy Wall Street has their violins ready. [NYT]

It's always fun when hedge fund managers and politicians clash. [Bloomberg]

Heavy D died yesterday at the age of 44. If you were a kid in the 1980s learning about hip hop, you have nothing but love for Heavy D and the Boyz. [YouTube]

-- Written by Robert Holmes in Boston.



>To contact the writer of this article, click here: Robert Holmes.

>To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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