No government releases out today. On the earnings front IBM, Johnson and Johnson, Verizon and Texas Instrument's will release their earnings this afternoon. Overnight Asian and European stocks were up modestly. Markets will have plenty of earnings reports to watch today and not much else. Trade strong.
Last week ended on a flat to down note for equities. Earnings reports were the emphasis of the day and there weren't any that impressed. The early morning economic reports were also less than impressive. December housing starts slipped to a rate of 999K, industrial production was up for the fifth consecutive month at 0.3% and lastly, the Mich sentiment number dipped to to 80.4. Friday was also an options expiration day, so volume was heavier than normal. For the week the DJIA was up 0.1%, the S&P was off by 0.2% and the Nasdaq increased 0.6%.