More Bad News

Good morning. We start another day with more bad news from corporate America, especially concerning both Intel (INTC) and Citigroup (C). Meanwhile, oil, gold, and commodities continue to rally while overseas markets were mostly lower due to concerns over slowing spending and rising inflation.

Premarket gainers: PRFT, SEED, EMKR, TSL, COINW, SOLF, ACGY, AAUK, QSC, BITS, SNTS, SUPG, OVEN, CHRD, BRL, FNSR, CRDN, BEXP, FLML, GFI, AUY, and LLNW.

Premarket losers: CLWR, SPLS, SNDK, USBE, C, BBY, OMPI, ETFC, ERIC, NCS, CCRN, MRVL, BKS, PMI, CETV, SLXP, TMA, NOK, ACH, HMIN, ASML, INTC, AMD, and TIVO.

No major economic reports are due out today. However, Bernanke is scheduled to speak about reducing mortgage foreclosures at 9AM and both Fed members Mishkin and Fisher will speak at 1PM. These speeches are not expected to be market moving events.

At this point, I really don't have a good feel for what the day has in store for us today. Like everyone else, I'll be watching yesterday's intraday lows and how the market responds to any new news throughout the session. Have a good one.