Markets to open lower

Futures are drifting south and are indicating that US market will open lower. As usual, before making any decision about trade transactions, it is a good idea to let the market settle for at least 30minutes.

Lehman posted good results and said its second-quarter net income rose 27% from a year earlier and beat analyst forecasts, but the housing slump and continued weakness in residential mortgages weighed on its fixed-income business. Its quarterly earnings rose to $1.27 billion, or $2.21 a share, from $1 billion, or $1.69 a share in the year-ago period. Lehman said net revenue rose to $5.51 billion from $4.41 billion a year earlier.