Turnaround Tuesday?

Good morning. Investors have more data to sort through this morning, but most of it is not all that positive.

A mixed PPI, another new record in oil prices, and disappointing earnings from several retailers like Home Depot (HD), Staples (SPLS), & Target (TGT) are in focus. In addition, Analyst Meredith Whitney is also making headlines with a prediction that banks will write off more than $170 billion of additional reserves by the end of next year.

Premarket gainers: JAZ, NCTY, PRGN, PEIX, SBLK, NFLX, CSUN, TICC, CTEL, ESLT, JRJC, AKNS, SOLF, DRYS, MDT, BIDZ, AMKR, TNB, SHPGY, PNNT, CSIQ, GIGM, DNR, AMGN, & RSOL.

Premarket losers: CNTF, SWHC, GRRF, TMA, HD, TRP, CSUN, RBN, AAUK, HOKU, SBUX, ACGY, BHP, & WGOV.

Other than the 10:AM release of State Street Investor Confidence Index we won't have a lot of fresh data to work with in today's session. Premarket futures have shown a consistently negative bias this morning due mostly to the nasty snapper we saw yesterday afternoon and weakness in overseas markets. The good news is that we know where support is and we'll see if they can rally back from a negative start around the 11:AM turning point.

Have a terrific Tuesday!