Happy New Year!

Good morning. Wall Street is ready to get back to work and premarket futures indicate that we're set for a bullish start to the new trading year. Strong gains in overseas markets yesterday, positive analyst commentary, strong sales data from Wal-mart, falling oil prices, and positive seasonality are in play this morning.

A scan of premarket trading confirms the bullish bias. Stocks trading higher are CPSL, SONS, NUAN, EAGL, ZVUE, FFHL, RFMD, TOMO, HSVLY, RMBS, TASR, CHINA, LFC, CHL, DIVX, CANI, AMAG, BIDU, XMSR, JBHT, EFUT, RVBD, and BRLC. Premarket losers are RPRX, ITMN, AMZN, ALXN, ATNI, LEN, NBR, and SPR.

How the market responds to today's economic data will be closely watched and we have several reports due out. Premarket futures just took a dip following the monthly ADP employment report which showed that private-sector employment fell by 40,000 in December, the first decline since July 2003. At 10:AM we have the ISM Manufacturing Index and Construction Spending and the minutes from the last Fed meeting will be released at 2:PM. Automakers will also report their monthly sales later today. Also, while relatively tame in recent quarters, preannouncement season is now open.

I don't know about you, but I'm fired up and ready to get to work. Let's make it a great year!