market update

Futures recovering very fast,

Breaking News taken from the bloomberg website at 7:58pm Syd. local time

•Senate Passes $700 Billion Bailout Package With Inducements for House Vote

•UBS Posts `Small Profit,' Reduces Holdings of Mortgage-Related Securities

•Stocks in Europe Climb, Led by UBS, Marks & Spencer; U.S. Futures Decline

•Money-Market Rates in Europe Rise as Banks Hoard Cash After Bill Approved

•Euro Falls to One-Year Low Versus Dollar Before ECB Interest-Rate Decision

•Trichet May Be Pushed Toward Rate Cut After `Wake-Up Call' From Bank Busts

•Northern Rock Turns Away Savers After Deposits Surge on Market Turbulence

•Tax Cuts of More Than $100 Billion Passed With Senate's Bank-Bailout Bill

•Kim Jong Il May Be `Tired,' Yonhap Reports, Citing North Korean Newspaper