Premarket, futures are up with the Dow indicated +18.

The Market

G-7 finance ministers reaffirmed their commitment to have “market determined exchange rates” early today. The statement also mentioned having each countries’ fiscal and monetary policy focus on domestic issues and “not target exchange rates.”

North Korean tested its third atomic bomb in defiance of the United Nations. South Korean authorities registered a 4.9 magnitude earthquake in its northern counterpart, most likely due to the nuclear test.

Coca-Cola (KO -0.41%) reported Q4 EPS of 45 cents, slightly above the consensus of 44 cents. Coca-Cola missed the average revenue estimate of $11.54 billion.

Cisco (CSCO) reports earnings after the close today.

CSCO and JPM are at 52 week highs.

European markets are higher. Exchanges in Hong Kong and Shanghai are closed again in recognition of the Lunar New Year holiday. Japan’s Nikkei ended up 1.9%.

Financial Calendar

1130 ET Kansas City Fed President Esther George speaks on U.S. economy at the University of Nebraska-Omaha.

1300 ET Treasury auction of $32 billion in 3-year T-notes.

1330 ET Atlanta Fed President Dennis Lockhart speaks in Madrid, Spain.

1400 ET Jan monthly budget statement expected -$2 bln.

1630 ET API weekly U.S. oil statistics.

1930 ET Philadelphia Fed President Charles Plosser speaks on the economic and monetary policy at the Stanford Institute for Economic Policy ResearchÂ’s Associates meeting.

1930 ET Richmond Fed President Jeffrey Lacker speaks on “Economics and the Federal Reserve after the Financial Crisis” in Lancaster, PA.

2100 ET President ObamaÂ’s State of the Union address.