MIDDAY LUNCH

Dow 10084.50  -66.04, Nasdaq 2137.44  -16.20, S&P 1057.22  -7.37 

Stocks have fallen since the open and are near the session lows.  There is a lack of leadership in today’s trading as traders appear to be taking a wait and see approach ahead of some key economic reports due this week, which includes the job numbers.

With regards to economic data, Personal Income increased +0.2% in-line with estimates, while Personal Spending rose +0.4% beating estimates.

President Obama is scheduled to talk about the economy this afternoon after meeting with his economic team.  To make any impact on the markets he will have to lay out a specific plan on how he will improve the economy and not blame the previous administration.

The worst performing sectors today are conglomerates -0.92% and Financials -0.82%.