Before the Open (Jan 8)

Good morning. Happy Tuesday.
The Asian/Pacific markets closed mostly down. Hong Kong, Japan, South Korea and Australia suffered the biggest losses. Europe is currently mostly up. Greece is up 2%; France and Switzerland are also doing well. Futures here in the States point towards a slight down open for the cash market.

The dollar is up a small amount. Oil and copper are up. Gold and silver are up.
The market mostly rested yesterday is a relatively small range. It was the third straight day the it consolidated its huge 2-day rally. The Russell currently sits at an all-time high. The Dow, S&P and Nasdaq still have resistance overhead in the form of their Sept and Oct highs. The price action looks good overall, so I still favor the upside, but in the very near term I would not be surprised to see a mini correction that allows some of our indicators to cycle down.
Monsanto (MON) did well with earnings…the stock is up better than 4% in premarket trading.
Perion Network (PERI) is up 15% before the open…the company says it expect revenue to grow 80% in 2013.
Yum Brands (YUM) is down 5% premarket…its China division Q4 same-store sales fell more than previously expected.
IHS’s (IHS) earnings look good at first glance…the stock has not trade premarket yet.
WellPoint (WLP) expects earnings to be at the high end of its previously established range.
Lindsay (LNN) is up 7.5% premarket…it easily beat Wall St. expectations (the drought in the midwest helped).
Destination Maternity’s (DEST) overall revenue dropped slightly because some of their under-performing stores have been closed down.
Earnings season will ramp up from here, so there’ll be a lot more stock-specific going forward.
Again, I like the market overall, but in the near term, I’m looking for a little give-back. More after the open.
headlines at Yahoo Finance
headlines at MarketWatch
today’s upgrades/downgrades
this week’s Earnings
this week’s Economic Numbers