The Dow is down -60 minutes into the session. Yesterday, we had AXP, BAC, GE, JNJ and JPM all hitting 52 week highs.

The Market

Cisco (CSCO) is down about 1% prmarket after reporting Q2 EPS of $0.51 versus the consensus of $0.48.

We still have HD, HPQ and WMT to report earnings this month,

The Labor Department reported Americans filing for first-time unemployment insurance fell by 27,000 to 341,000 in the latest week.

Warren Buffett’s Berkshire Hathaway (BRKA) and 3G Capital have agreed to buy Heinz (HNZ) for $28 billion. Shares of the ketchup-maker spiked 17%.

European markets are down and Asian markets closed higher.

Financial Calendar

0830 ET Weekly initial unemployment claims expected -6,000 to 360,000, previous -5,000 to 366,000. Weekly continuing claims expected -19,000 to 3.205 mln, previous +8,000 to 3.224 mln.

0830 ET USDA weekly Export Sales.

0950 ET FedÂ’s Pianalto speaks on economy in Ft. Myers, FL.

1100 ET Treasury announces 30-year TIPS auction for Feb 21.

1250 ET St. Louis Fed President James Bullard to speak on U.S. economy and monetary policy in Mississippi.

1300 ET Treasury auction of $16 billion of 30-year T-bonds.

n/a G20 finance ministers and central bank governors 2-day meeting on Thu/Fri in Moscow.