Oil is up $1.76 a barrel, at 82.47.

Gold is up $13 an ounce at $1,631 an ounce.

This morning in the U.S. Market:

This week is a fairly heavy week for potential market-moving economic reports, including the Chicago Fed's National Business Index, Durable Goods Orders, another revision of 2nd quarter GDP growth, and the Chicago PMI. To see the full schedule of the week's reports click here, and look at the left side of the page it takes you to.

Monday's report was that the Chicago Fed's National Activity Index fell again in August to minus 0.28, from minus 0.27 in July. It was the 5th straight negative monthly reading. The important three-month moving average is at –0.37, still fractionally above the –0.7 level that has marked the beginning of all 7 recessions since 1970. And New Home Sales fell 2.3% in August. And the Dallas Fed's General Business Activity Index fell further to –14.4 in September from –11.4 in August. It was the 5th straight month in negative territory.

Tuesday it was that the Case-Shiller Home Price Index rose 0.9% in July, narrowing the year-on-year decline to 4.1%. But as we begin to enter October, July data is becoming old news. And Consumer Confidence remained depressed in September, coming in at 45.4 versus 45.2 in August.

Yesterday it was that Durable Goods Orders fell 0.1% in August versus the gain of 4.1% in July.

This morning finally some good news: New weekly unemployment claims fell by a big 37,000 last week to 391,000 from the previous week's 428,000. That's the first time claims have been under 400,000 since April. And 2nd quarter GDP growth was revised up to 1.3% from the previously reported 1.0%, the first time we've seen an upward revision from a previously reported GDP in close to two years.

Still to come are Pending Home Sales at 10 am.

Pre-open indicators were already very positive prior to the reports, and have become more so.