MIDDAY LUNCH

Dow 10262.51  -104.21, Nasdaq 2228.29  -21.55,S&P 1083.79  -11.38 

Stocks have been under pressure all day as traders take a break ahead of Google’s (GOOG) 488.33 -3.00, -0.59% releases their earnings after the close.  Additionally, tomorrow’s calendar has Bank of America (BAC) 15.15 -0.51, -3.25%, Citigroup (C) 4.09 -0.12, -2.73% and General Electric (GE) 15.05 -0.15, -1.05% reporting earnings.

Economic data today has been mixed.  The Labor Department reported the initial jobless claims came in at 425,000 versus the 450,000 the street had expected, while continuing claims rose by 250,000 to 4.68 million.

The PPI came in better than expected falling -0.5% and the core PPI, which excludes food and energy

came in at the expected 0.1%.

In addition the Philly Fed Index and the Empire Manufacturing Index missed estimates by a wide margin.

GlaxoSmithKline (GSK) 37.04 +0.69, +1.90% shares are higher after a joint advisory committee to the FDA voted to allow the company's Avandia drug to remain on the market.

Also bucking the trend today is Celgene (CELG) 53.24 +1.11, +2.13%