MIDDAY LUNCH

Dow 10910.06  -16.71, Nasdaq 2407.42  -16.83, S&P 1170.83  -2.77 

The stock market is off session low and for a brief period was in positive territory before falling back in the red.

The Euro has rallied from session lows’ causing the dollars gain to be halved; the dollar is now up +0.6%.

Financials are strong after starting the trading day with a 1.9% decline the sector is now trading up +0.9%.

Traders are keeping a watchful eye on Europe today as riots have broken out in Greece and there are rumors that Portugal’s debt rating may be lowered two notches.

After the closing bell today Microchip Tech (MCHP) is scheduled to report earnings.  Analysts’ estimates are for the company to report earnings of +$0.37.  Also reporting are: Expeditors Intl (EXPD) estimates are EPS of +$0.28, Transocean (RIG) estimates are EPS of +$2.10.