Financial Breakfast: Morning News Summary for January 10, 2012

• Wall Street may also have been named after Walloons because Waal may be a shortening for Walloons.

Benzinga's Top News

• Bank of America downgrades Netflix NFLX to Underperform
• Tiffany TIF cuts forecast; guides FY2011 EPS $3.60-3.65 vs $3.76 Est
• Dehaier Medical DHRM receives CE Mark approval to sell sleep diagnostic devices and air compressors in Europe
• DSW DSW raises 2011 EPS guidance to $2.96-2.99 vs $2.90-2.95 prior, $2.95 est

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 100 points.
• U.S. Dollar trades about 0.20% lower.

Overseas Trading

• European markets are higher in afternoon trading. Britain's FTSE 100 added 1.08%, Germany's DAX gained 2.11% and France's CAC 40 advanced 1.83% on the session.
• Asian stocks ended the session higher. China's Shanghai added 2.7%, Japan's Nikkei 225 advanced 0.38%, and Hong Kong's Hang Seng gained 0.73%

Upgrades/Downgrades

• Deutsche Bank upgrades L-3 Communications LLL to Buy
• Bank of America upgrades Marriott International MAR to Buy

• Bank of America downgrades Netflix NFLX to Underperform
• Credit Suisse downgrades Choice Hotels International CHH to Underperform

On the Economic Calendar

• IBD/TIPP Economic Optimism and Wholesale Inventories are due at 10:00 a.m. ET

Earnings

No Major Earnings this Morning

Corporate News

• Tiffany TIF cuts forecast; guides FY2011 EPS $3.60-3.65 vs $3.76 Est
• Dehaier Medical DHRM receives CE Mark approval to sell sleep diagnostic devices and air compressors in Europe
• DSW DSW raises 2011 EPS guidance to $2.96-2.99 vs $2.90-2.95 prior, $2.95 est

Commodities

• Precious metals are trading higher, with gold posting gains of about 1.4%
• Energy futures are trading higher, with crude oil posting gains of about 1.3%
• Natural Gas futures are lower by about 0.13% and copper is trading higher by about 1.6%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini Dow	12402	12368	12319	12285	12236
E-Mini S&P 500	1283	1279	1274	1270	1265
Gold	1632	1621	1614	1604	1597
Crude	103.12	102.21	101.16	100.25	99.20
Natural Gas	3.06	3.03	3.00	2.98	2.95
EUR/USD	1.2831	1.2797	1.2750	1.2717	1.2670
US Dollar Index	81.83	81.56	81.41	81.14	80.98

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