The Dow is down this morning. Gainers this morning include BBY (+7.04%), THC, MAS, A and AAPL while losers include JCP (-6.95%), POM, GME, PNC and TIF.

The Market

Boeing is having a problem this morning, down -1.8% with the FAA having a press conference on their plane. They (the FAA) says they are going to do a special review of the Dreamliner and believe the Boeing plane is safe. Boeing is still down.

Dow gainers this morning include AXP (+1.86%), IBM, CVX, JNJ, MRK, TRV, DIS and INTC.

Top Dow losers this morning are BAC (-2.12%), BA (-2.02%), MMM, JPM, KO and UNH.

American Express (AXP) announced late Thursday that it was cutting 5,400 jobs, becoming the latest large financial firm to reduce its headcount.

Earnings Reports

Earnings reports (estimates): WFC-Wells Fargo ($0.89), WAFD-Washington Fed (0.32).

Financial Calendar

0830 ET Dec import price index expected +0.1% m/m and -1.5% y/y, Nov -0.9% m/m and -1.6% y/y.

0830 ET Nov U.S. trade deficit expected -$41.2 bln, Oct -$42.2 bln.

0930 ET Philadelphia Fed President Charles Plosser speaks on U.S. economic outlook at NJ Economic Leadership Forum in Somerset, NJ.

1200 ET USDA WASDE report and Quarterly Grain Stocks.

1400 ET U.S. Dec monthly budget statement expected -$20 bln.