Financial Breakfast: Morning News Summary for January 18, 2012

• When the World Trade Center fell, it was estimated that 45% of Wall Street's best office space was destroyed.

Benzinga's Top News

• PNC Financial Services PNC Reports Q4 EPS $1.39 vs $1.42 Est; Revenues $3.55B vs $3.54B Est</ li>
• US Bancorp USB Reports Q4 Ex-Gain EPS $0.64 vs $0.63 Est; Revenues $5.1B vs $4.76B Est</ li>
• Yesterday, Yahoo! YAHOO announces resignation of Jerry Yang

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 14 points.
• U.S. Dollar trades about 0.4% lower.

Overseas Trading

• European markets are mixed in afternoon trading. Britain's FTSE 100 lost 0.09%, Germany's DAX gained 0.22% and France's CAC 40 slid 0.08% on the session.
• Asian stocks ended the session mixed. China's Shanghai lost 1.37%, Japan's Nikkei 225 added 0.99%, and Hong Kong's Hang Seng gained 0.3%

Upgrades/Downgrades

• Credit Suisse upgrades MGM Resorts MGM to Neutral
• JP Morgan upgrades Belo BLC to Overweight

• Brean Murray downgrades Chesapeake Energy CHK to Hold
• Bank of America downgrades Bruker BRKR to Underperform

On the Economic Calendar

• US MBA Mortgage Applications 23.1% vs 4.5% Est
• Producer Price Index is set to report at 8:30 a.m. ET
• TIC Flows are due at 9:00 a.m.
• Industrial Production and Capacity Utilization is due at 9:15 a.m.

Earnings

• State Street STT Reports Q4 EPS $0.93 vs $0.93 Est; Revenues $2.32B vs $2.39B Est</ li>
• Northern Trust NTRS Reports Q4 EPS $0.70 vs $0.68 Est; Revenues $955.60M vs $969.79M Est</ li>
• PNC Financial Services PNC Reports Q4 EPS $1.39 vs $1.42 Est; Revenues $3.55B vs $3.54B Est</ li>
• US Bancorp USB Reports Q4 Ex-Gain EPS $0.64 vs $0.63 Est; Revenues $5.1B vs $4.76B Est</ li>

Corporate News

• Yesterday, Yahoo! YAHOO announces resignation of Jerry Yang
• CB&I CBI announces Kearl Oil Sands expansion project contract; valued in excess of $750M

Commodities

• Precious metals are trading lower, with gold posting losses of about 0.21%
• Energy futures are trading higher, with crude oil posting gains of about 0.4%
• Natural Gas futures are higher by about 1.5% and copper is trading lower by about 0.28%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini Dow	12558	12490	12446	12378	12334
E-Mini S&P 500	1309	1299	1292	1282	1276
Gold	1674	1663	1656	1645	1639
Crude	102.03	101.51	100.50	99.98	98.97
Natural Gas	2.64	2.57	2.50	2.42	2.35
EUR/USD	1.2848	1.2790	1.2751	1.2694	1.2654
US Dollar Index	81.73	81.54	81.27	81.09	80.82

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