Good morning. Investors are sorting through a number of earnings reports including from Cisco Systems (CSCO), Freddie Mac (FRE), Sprint (S), Time Warner (TWX), Priceline.com (PCLN), Ambac (ABK), & Whole Foods (WFMI). Also, oil is trading slightly higher ahead of the government's weekly energy inventory report at 10:35AM.
In the early going, premarket futures are mixed as the market hopes to extend yesterday's largest one-day advance since April.
Premarket gainers:VRNM, CSCO, SCA, MWA, GNA, BIDZ, WMS, WLK, ILE, LLNW, KNDL, FTK, WPP, GGC, SWC, RMD, INSP, GMR, TKLC, NETL, MDRX, CATS, CBB, ATB, XJT, MSFT, CMED, IOC, AMKR, RL, & PQ.
Premarket losers: ABCO, MFLX, KMX, WFMI, FRE, INAP, KOG, CWEI, FNM, PCLN, BMRN, QSFT, AKNS, S, ONXX, HCP, HSP, TTES, RDN, MEE, EWBC, LYG, SMSI, VMC, PACR, LAMR, NVS, MOLX, & MVIS.
All eyes will remain on the 1300 in the S&P as a key technical breakout threshold to confirm, if not extend yesterday's rally into a full contertrend move back to the 1350 level. A little bit of weakness this morning and a strong close would help the bulls considerably.
* The moving truck is loaded up and today is our last day in Minnesota. We begin the long road trip to Utah tomorrow.