MORNING STUFF

A chart of GS which has been selling off of late and is down about 10 from the recent high. A preview of lower markets? Could be.

On the wires, 4th Q GDP comes in above consensus at 3.5% and ADP estimate of job growth is 152k vs 155k estimate by economists.

TWX reports in line and guides below consensus.

BA beats by 19 cents and raises 07 guidance to 4.55/4.75 from prior 4.45/4.65.

B of A reaffirms Buy on IGT in light of recent selloff.

Oil and Gas stocks upgraded to Buy at Oppenheimer.

Crude is trading down about 30 cents after yesterday's big ramp.

Digitimes reports demand slowing for DDR memory.

Gapping higher are SIRF WSII CGA GBX BMY CKFR FLEX TEVA BA.

Gapping lower are SNDK WBSN NWRE CLS SLAB SNE NTRI CHL JNPR.

Major market Futures are trading down slightly as we await the Fed.

Pivots on the DJIA Futures are 12,548 with support at 12,523 and resistance at 12,584.