MIDDAY LUNCH

Dow 10566.12  +1.74, Nasdaq 2355.72  +15.81, S&P 1144.94  +4.47 

Stocks started the day off to the plus side and then slipped into the red and are now making their way higher.  Treasuries are under pressure in the wake of a $21 billion auction of 10-year Notes. The auction drew a yield of nearly 3.74%.

The financial sector is doing well today after Citigroup (C) 3.95 +0.13, +3.40% as traders reacted positively to its $2 billion trust preferred offering and positive comments from renowned analyst Dick Bove.

AIG (AIG) 35.44 +2.67, +8.15% is also up sharply today on strong volume.

Large cap tech is strong today which has helped the Nasdaq hit a fresh 52 week high. The semiconductor sector is leading the way up +2.6%. Microchip Technology (MCHP) 27.23 +0.31, +1.17%, Xilinx (XLNX) 26.87 +0.25, +0.94%, Analog Devices (ADI) 30.66 +0.81, +2.77% and Micron Technology (MU) 9.77 +0.36, +3.83% are all trading higher.

Wall Street got a look at wholesale inventories for January today.  Inventories unexpectedly fell -0.2%. This could suggest stronger-than-expected demand and the inventory decline can undermine GDP.