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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. [<a href="" target="blank" rel="nofollow">NYT</a>]

Greek Prime Minister George Papandreou is expected to offer his resignation at 10 a.m. New York time. [<a href="" target="blank" rel="nofollow">Reuters</a>]

Even in Europe, banks will do whatever they can to avoid capital rules. Time to read up on "risk-weighted asset optimization." [<a href="" target="blank" rel="nofollow">Bloomberg</a>]

General Motors (GM - Get Report) says it earned $1.7 billion in the third quarter and the stock falls 5%. [<a href="" target="blank" rel="nofollow">Detroit Free Press</a>]

Microsoft (MSFT - Get Report) + Yahoo! (YHOO - Get Report) + AOL (AOL). I'm totally sure Google (GOOG) is quaking in its boots right now. [<a href="" target="blank" rel="nofollow">WSJ</a>]

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. [<a href="" target="blank" rel="nofollow">Bloomberg Businessweek</a>]

Company News

Interactive Brokers (IBKR - Get Report) Chairman and CEO Thomas Peterffy bought 8 million shares of MF Global as the company fell into bankruptcy. [<a href="" target="blank" rel="nofollow">Bloomberg</a>]

Stealing cars and shooting terrorists are extremely popular businesses. Just ask Activision Blizzard (ATVI - Get Report) and Take-Two Interactive (TTWO). [<a href="" target="blank" rel="nofollow">Hollywood Reporter</a>]

The fraud scandal involving Japanese camera maker Olympus grows more interesting by the day. [<a href="" target="blank" rel="nofollow">NYT</a>]

Looks like the late Apple (AAPL - Get Report) co-founder Steve Jobs was right. Adobe (ADBE - Get Report) will stop developing Flash for mobile browsers. [<a href="" target="blank" rel="nofollow">ZDNet</a>]


Bill Clinton and Newt Gingrich both admit they were wrong to repeal Glass-Steagall. [<a href="" target="blank" rel="nofollow">Slate</a>]

Your good-news alert for today: Job openings hit a three-year high in September, which means companies are planning to hire. [<a href="" target="blank" rel="nofollow">Bloomberg</a>]

Inflation? What inflation? The International Energy Agency says oil could reach $150 a barrel in the near term. [<a href="" target="blank" rel="nofollow">Reuters</a>]

Investment Strategy

Taking a closer look at the financial sector. [<a href="" target="blank" rel="nofollow">Market Anthropology</a>]

The hedge fund managers that millionaires trust the most. [<a href="" target="blank" rel="nofollow">Reuters</a>]

Odds and Ends

How a financial professional lost his house. Occupy Wall Street has their violins ready. [<a href="" target="blank" rel="nofollow">NYT</a>]

It's always fun when hedge fund managers and politicians clash. [<a href="" target="blank" rel="nofollow">Bloomberg</a>]

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. [<a href="" target="blank" rel="nofollow">YouTube</a>]

-- 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

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

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