MIDDAY LUNCH

Dow 10274.33  +88.80, Nasdaq 2182.65  +11.45, S&P 1100.10  +10.91 

The stock market just barely topped the psychologically significant 1100 level, which has become a source of resistance.

While weakness remains in large-cap tech issues like Microsoft (MSFT) 28.36, -0.05, Google (GOOG) 530.18, -2.84, and Apple (AAPL) 195.20, +0.47.

An upside surprises from UPS (UPS) 58.98, +0.59 has won its shares favor, while Dow Chemical (DOW) 28.15, -0.48 eked out a beat, but it has failed to find support.

The CRB Commodity Index is at a fresh session high with a +1.7% gain. The move has been caused by a +1.1% gain in gold prices to $1116.50 per ounce and a +3.4% rise in oil prices to $76.95 per barrel.

Treasury Secretary Geithner testified before the Senate Finance Committee this morning on the government's fiscal 2011 budget. Part of the testimony was an appeal for a bipartisan effort to lower down deficits that he blamed on the Bush administration.

In economic news, pending home sales in December increased +1.0% month-over-month, which is in-line with expectations. Pending sales for November were downwardly revised to show a -16.4% month-over-month decline.