Pre Market

The markets across Asia all closed in the red with China leading the way down 3.64%. The European markets were weak until the CPI number came out and they simultaneously spiked. Speaking of the CPI, the numbers came in better than consensus indicating inflation may be abating. With the recent rise in gas prices, I suspect the number will be a lot higher next month.

Stocks In Play

Earnings Announcements

Looking to buy MPEL on any further weakness.

Home Depot announces a 30% drop in earnings blaming the weak housing market.Perhaps earnings would be better if HD didn't have to pay Nardelli.

Walmart profit comes in line with expectations but issues a profit warning. Have we not seen this before ? It feels like this is the 3rd of 4th straight quarter that WMT has warned.

Daimler Chrysler profit more than doubles with Mercedes sales playing a big role. The sale of Chrysler is going to help them going forward.

Manufacturing in New York state has been expanding as inventories decline. Is an economic recovery on the horizon or this this just a blimp ?

Futures are indicating a positive open. We may get some nice upside today with the bettert han expected CPI numbers.