Low Expectations

Good morning. Premarket futures are in slight negative territory as investors look ahead at the week and have low expectations.

Comments by Warren Buffet that the party is over for insurers, that stocks aren't cheap, and the economy is in recession are in focus. Analysts have also continued to slash earnings estimates for the brokers this morning in an effort to keep the bar low to hopefully generate an upside surprise as these firms report. Overseas markets were also under pressure, especially in Asia, as the dollar continues to fall and gold prices keep climbing.

Premarket gainers: DBD, FMT, NOC, ETFC, GSK, PMTI, AVCT, SLW, ATPG, MCHP, HMY, ESLR, GFI, HBC, SFE, MELI, SLXP, FCEL, COIN, FCX, BONT, GOLD, CEM, GIGM, COMS, PCU, and SDTH.

Premarket losers: TMA, BA, GEHL, FRPT, DFR, MICC, SIRI, CEDC, JRJC, DECK, APOL, SPWR, DRYS, and PCLN.

We have plenty of economic data to sort through this week leading up to Friday's jobs report. For today, investors will be taking notes on the ISM Manufacturing Index and January Construction Spending at 10:AM along with motor vehicle sales. At this point, few are expecting any good news to surface regarding the economy.

The February lows in the major market indexes (like around 1315 in the S&P 500) are going to be closely watched for support and failure and the reaction to this morning's economic data at 10:AM will be key. Go make it great week!