Daniel Gross

Morning Reading: Europe, UBS, gold in focus

Contrary Indicator

What to watch, courtesy of Yahoo! Finance's Elizabeth Trotta:

Good morning! World stocks are mixed and U.S. futures are pointing to a rebound at the open as investors continue to focus on the euro zone. World finance ministers met over the weekend, seeking solutions to the European debt and banking crisis and urging action. U.S. Treasury Secretary Tim Geithner called it "the most serious risk now confronting the world economy."

Gold is heading for its biggest three-day loss in 28 years on Monday as investors look to secure cash, fearing a euro zone fallout from a potential Greek debt default.

Meanwhile, interim CEO Sergio Ermotti took the helm at UBS on Monday after Oswald Gruebel resigned Saturday, taking the blame for a $2.3 billion rogue trading scandal. Ermotti inherits the tasks of boosting client confidence and shrinking the investment bank after the high profile loss.

Economic News:

10:00 New Home Sales (expected 293,000, prior 298,000)

Early Headlines:

Futures jump on optimism over Europe moves

Gold eyes biggest 3-day fall in 28 years, investors flee

Commodities Drop as Silver Slumps on Europe

Pimco Forecasts Europe Recession Next Year

Geithner sounds alarm on Europe

UBS:

Investors assess new UBS CEO, hope for fast revamp

UBS in 'Disarray,' Ermotti Named Interim CEO

UBS's Ermotti Faces Task of Shrinking Bank

U.S.

Trader Pay May Face Limits Under Volcker Rule

Netflix edges out HBO for Dreamworks deal: report

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