Futures suggest a partial recovery from yesterday's steep losses on what has been a slow news morning. Index futures are sharply higher, although they are off their early morning highs. The House of Representatives rejection of the financial relief plan sparked a massive 431 basis point increase in the over night dollar Libor to 6.88%. The Libor measures what banks charge each other for short-term loans, so an elevated number represents tight credit markets. All terms of Libor climbed, which range from overnight to 12 months. On the earnings front, Pepsi Bottling Group (PBG) increased third quarter earnings per share by 7.1% year-over-year to $1.04, which topped expectations by $0.02. On the economic front, the S&P/CaseShiller Home Price Index (9:00 AM ET), regional manufacturing survey Chicago PMI (9:45 AM ET), and consumer confidence (10:00 AM ET) are all set for release later this morning. After plunging more than 10% yesterday, crude prices are on the rise with a gain of 2.9% to $99.23 per barrel. European markets are mixed -- The FTSE is up 0.4%, the CAC is flat and the Dax is down 0.9%.