In poor economic news, the S&P/Case-Shiller Home Price Index fell to its lowest level since 2002. Over the past 12 months, prices in the 20 cities measured by the index fell 3.5%, with nine of the markets hitting post-bubble lows. Those markets include Atlanta, Charlotte, Chicago, Las Vegas, and New York. No doubt Chairman Bernanke will be asked about housing in his press conference tomorrow.
On the positive earnings front, AT&T (T) and 3M (MMM) are higher by 3.7% and 2.4%, respectively, after posting good EPS and overall earnings outlooks. Netflix, which beat estimates but warned on subscribers yesterday, is down 13.7% today.
The 10-year treasury note is yielding 1.96%, while the 30-year treasury bond yields 3.11%. The US$ is down in trading, losing 40 pips against EUR to the 1.32-figure. USD/JPY is flat on the session.
In 1-day performance, Oats futures are up 4%, and Corn and Soybean futures gained nearly 3%. At the other end of the spectrum, Cotton futures are off 1.6% and Live Cattle futures dropped 1.5%.
AAPL fireworks after the bell will be fun to watch. Then, tomorrow, you have the Bernanke-show.