Premarket, futures are up with the Dow showing an implied open of +15. There are no Dow stocks at 52 week highs, or lows.

The Market

The Dow closed up +115.96 (+0.84%) yesterday at 13,900.13.

Federal Reserve Chairman Ben Bernanke will testify before the House Financial Services Committee at 10 a.m. on Wednesday. Yesterday, Bernanke sat before a Senate committee and answered questions on quantitative easing, the sequester, and the state of the U.S. economy.

European markets are higher and Asian markets ended mostly higher. Japan closed down -1.27%.

The national average price of gasoline is up four-tenths of a centt to $3.786 per gallon.

Earnings Reports

Yesterday, Home Depot (HD) reported earnings of $0.68 vs estimates of $0.64 and also announced a $17 billion buyback and 34% dividend increase.

There are no other Dow earnings on the horizon.

A. B. InBev (BUD) is expected to report fourth quarter EPS of $1.18 vs. $1.21 a year ago.

Chicago Bridge and Iron (CBI) is expected to report fourth quarter EPS of $0.83 vs. $0.70 a year ago.

Fortress Investment Group (FIG) is expected to report fourth quarter EPS of $0.14 vs. $0.09 a year ago.

Groupon (GRPN) is expected to report fourth quarter EPS of $0.03 vs. a loss of $0.02 per share a year ago.

J.C. Penney (JCP) is expected to report a fourth quarter loss of $0.14 per share vs. EPS of $0.74 a year ago.

Target (TGT) is expected to report fourth quarter EPS of $1.48 vs. $1.43 a year ago.

TJX Companies (TJX) is expected to report fourth quarter EPS of $0.81 vs. $0.62 a year ago.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -1.7% with purchase sub-index -1.7% and refi sub-index -1.6%.

0830 ET Jan durable goods orders expected -4.8%, Dec +4.3% m/m. Jan durable ex-transportation orders expected -0.3% m/m, Dec +1.0% m/m. Jan non-defense capital goods orders ex-aircraft, Dec +0.2% m/m.

1000 ET Jan pending home sales index expected +2.0% m/m, Dec -4.3% m/m and +4.9% y/y.

1000 ET Fed Chairman Ben Bernanke delivers semi-annual testimony on monetary policy to House Financial Services Committee.

1030 ET DOE Weekly Petroleum Status Report.

1300 ET Treasury auction of $29 billion in 7-year T-notes.

1630 ET Dallas Fed President Richard Fisher speaks on the economy and monetary policy at Columbia UniversityÂ’s Spring 2013 Distinguished Speaker in International Finance and Economic Policy.