Morning Note: Eyes On Under-the-Radar Economic Indicator

Fast Money’s Karen Finerman was watching the earnings out of a little known company this morning with a business that could reveal the strength of an entire sector.

Metropolitan Capital’s founding partner was monitoring the earnings of Wabco Holdings , a commercial vehicle equipment supplier. Wabco raised its full year guidance this morning due to stronger-than-expected sales growth in Europe and China. “As we prepare to enter 2011, our expanding backlog means keeping factories running during year-end holidays, which in turn will further increase volume productivity,” said WABCO CEO Jacques Esculier in a statement.

Finerman took the news as a bullish sign for the trucking space. “It bodes well for the whole truck space,” said Finerman, who has long been interested in the trucking sector. Finerman regularly watches trucking sector performance for indications of overall economic strength.

As Finerman focused on trucking, Brian Kelly was reacting to China’s comments that it would take ‘concrete steps’ to support the Euro. Kelly was maintaining his short euro position in the wake of the comments, but they did make him slightly uneasy about it. If China becomes the buyer of last resort for the Euro, then bearish sentiment could quickly turn bullish, said Kelly.

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