Higher-than-expected jobless claims numbers have sent the futures to their lows of the overnight session. Also set to be released this morning are Existing Home Sales, Philadelphia Fed, and Leading Indicators, all due out at 10:00 am. A slew of earnings have stocks mixed in the pre-market but the consolidation of the last week or so has stocks wound up:

It seems like a range has been established between the 20 and 50 DMAs and the market is set to open right around the 50 DMA right now. Last Tuesday's low of 1357 would be the next line of support if the market was to break lower.

News of note:

Glaxo Bids for Human Genome Sciences

Philip Morris Profit Tops Estimates After Price Increases

Profit at Bank of America Falls to $653 Million in First Quarter

Spain Meets Bond Auction Target as Costs Rise

Nokia Reports Operating Loss on Nokia Siemens Costs