MIDDAY LUNCH

Dow 10328.21  +18.97, Nasdaq 2229.04  +2.75, S&P 1100.75  +1.24 

Stocks have traded in a narrow range today with the gains being broad based.  Eight of the ten major sectors are posting gains. Energy -0.3% and Telecom -0.4% are the only two lagging sectors.

Treasuries prices are under pressure today.  The benchmark 10-year Note's yield has run up to 3.80% for the first time in more than one month.  The pressure on treasuries is coming from the PPI report, leading some to become worried about inflation.

The PPI jumped unexpectedly +1.4% in January after increasing a more moderate +0.4% in December.  Economist had estimated a +0.9% rise in producer prices.  Excluding food and energy, the core PPI increased +0.3%. The consensus expected core prices to rise only +0.1%.

Philadelphia Fed Index for February came in at 17.6, which is better than the 17.0 that had been expected.

Leading indicators for January showed a +0.3% increase, which was not as strong as the +0.5% increase that was expected.  It was also a sharp decline from the +1.2% increase that was posted in the prior month.

Shares of food processing players HJ Heinz (HNZ) 45.58 +0.56, +1.24% and Hormel (HRL) 42.15 +1.56, 3.86% are among this session's better performers. Heinz has announced upside guidance, while Hormel raised its guidance for fiscal 2010 after it announced earnings that topped Wall Street's expectations.

Retail giant Wal-Mart (WMT) 53.23  -0.83, -1.54% The company posted better-than-expected earnings for the latest quarter and issued in-line guidance, but announced that its fourth quarter U.S. comparable store sales fell more than expected.