Market Happenings for Monday, January 30, 2012

Pre-market, futures are down as Greek leaders did not come to an agreement on a debt-relief deal. Gainers this morning include CAG, SYMC, TRV, LLY and CBE while losers include SPLS, FTR, NUE, MET and X. Light crude is down -0.45% at 99.11 and gold is down -0.28% at 1,727.30.

The Market

Bank stocks are lower in pre-market trading, with Bank of America (BAC) down -1.9% and JPMorgan Chase (JPM) down -1.3%.

European stocks slumped in midday trading. Asian markets ended lower.

The Commerce Department reported Monday that personal income ticked up 0.5% in December, while spending remained flat.

The Facbook IPO is garnering a lot of buzz on Wall Street.

XOM reports earnings tomorrow before the open this morning.

PFE reports earnings tomorrow before the open this morning.

Earnings Reports

Earnings reports: MCK-McKesson (earnings consensus $1.38), PCL-Plum Creek Timber (0.39), SLG-SL Green Realty (0.03), HOLX-Hologic (0.32), RGA-Reinsurance Group of America (1.84), GCI-Gannitt (0.69), TNB-Thomas & Betts (0.90), TGI-Triumph Group (1.12), GGG-Graco (0.51), SOA-Solutia (0.52), RCII-Rent-A-Center (0.82), WEN-Wendy’s (0.04), ALGN-Align Technology (0.22), CFFN-Capitol Federal Financial (0.10), WWW-Wolverine World Wide (0.45).

Financial Calendar

0830 ET Dec personal spending expected +0.1%, Nov +0.1%. Dec personal income expected +0.4%, Nov +0.1%. Dec PCE deflator expected +2.3% y/y, Nov +2.5% y/y. Dec PCE core deflator expected +0.1% m/m and +1.7% y/y, Nov +0.1% m/m and +1.7% y/y.

1130 ET Weekly 3-mo and 6-mo T-bill auctions.

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