S&P futures vs fair value: -7.0. Nasdaq futures vs fair value: -12.0.

Still shaping up to be another dismal start for stocks as investors lack any overwhelming evidence to get buying efforts back on track. Among a handful of positive developments, Warren Buffett's Berkshire Hathaway has bought another 10.1 mln shares of Burlington Northern (BNI) and MedcoHealth Solutions (MHS) has agreed to buy PolyMedica (PLMD) for $1.5 bln. However, today's only notable M&A deal is hardly of the blockbuster variety and Buffett's interests in railroads has been public knowledge for several months, leaving the door open for investors to put renewed subprime concerns front and center as a reason to keep questioning valuations following last week's sizable market gains.