Five Things We're Watching: March 8, 2011

Tweeting for profit, oil's wild ride and the headwinds facing Bank of America. Here's some of what we’re watching — and therefore you should as well.?


Trading on Twitter: The Twitter universe is more than a place for snarky pop culture commentary and Charlie Sheen's record-breaking feats — it's become a critical ecosystem for markets.

@KateKellyCNBC kicks off a special series Tuesday, looking at how traders are profiting off the new world of microblogging : from a hedge fund basing its strategy on Twitter-sourced consumer sentiment to agricultural traders keeping tabs on tweeting farmers.?

Barreling Higher: Again Monday, oil spiked on violence in Libya and the stock market saw a sea of red. Volatility was the name of the game with disputed rumors of Gaddafi stepping down and reports of continued pressure on the American government to tap the strategic petroleum reserve. Our Bob Pisani continues to cover the market moves from the floor of the stock exchange.?

?Fat Tuesday: As a prelude to a debaucherous night of consumption, we're intently watching to see what McDonalds reports in its February sales release before-the-bell. Analysts are counting on 3.6 percent growth worldwide, while shares of the fast food giant have lagged the broad market since reaching an all-time high in early December. One big question: what do we have to do to get the McRib on the permanent menu??

?BofA and the Mortgage Mess: Bank of America holds its first investor day Tuesday since 2007.

And while the bank's arisen from financial crisis depths along with numerous peers, things aren't all rosy at BofA. In 2010, the bank posted a full-year loss of $2.2 billion.

A rosier outlook could be offset for investors by the big outlier of mortgage liabilities, with the fear of a bank buy-back costing billions. CNBC will have all the news throughout the day, with Maria Bartiromo anchoring a special edition of Closing Bell from BofA's trading floor.?

?Geithner Goes to Germany: The alleged defender of King Dollar — aka Treasury Secretary Geithner — makes a whirlwind trip across the Atlantic to spend his Tuesday meeting with European officials like ECB President Jean-Claude Trichet and Bundesbank chief Axel Weber.

All of the turmoil in the Middle East and North Africa is justifiably stealing headlines, but Europe still has sizeable problems of its own. On Friday, EU leaders meet in Brussels amidst sluggish growth and a German proposal to boost the scope and capacity of the euro zone bailout fund.

Needless to say, there's plenty on the table, and we hope the dollar is front and center. Lip service or not, we're trying to go to Will & Kate's wedding ... and a better exchange rate wouldn't hurt.?