The U.S. giant airplane maker Boeing and banks such as Morgan Stanley and Wells Fargo are the focus of the U.S. morning market. They are likely to be the main movers and shakers of of today's stock market.

Bank of America investor relations will be busy today. Earnings reports that are moving the markets this morning include General Electric, the biggest U.S. business conglomerate, and Bank of America, one of the biggest banks in the world. Both company’s reports were worse than anticipated causing the equities markets to be trading down this morning.

Oil prices are surging today on Wall Street. After trading within the narrow range of $65 to $75 per barrel for the last ten weeks, oil prices are on the move. Currently oil is trading above $77 per barrel, up almost $2 on the day, and at its high level for the year.

Atticus Capital, a large broker of hedge funds, is closing a flagship fund as well as a smaller fund. The founder, Timothy Barakett, cited "solely personal reasons" for the decision.

Well, so much for the bears and that head and shoulder top they ranted and raved about only two weeks ago. That old, old widely known chart formation of the DJIA meant, we were told by purist technicians was basically announcing the end of the Western world.

Global economic optimism is improving. Stocks seem to be happier. However, concerns grow over Iran's programs. Wells Fargo's Chief Market Strategist Al Goldman and Senior Equity Market Strategist Scott Marcouiller report.

The scarce economic news and the worries about the future of the economy do not give investors direction, therefore in the early trading the stocks point to lower opening.

While the U.S. stock market last Thursday was not patriotic, we do believe in instant gratification when it comes to investing or doing business. However, we need to give the stock market some more time for correction. Chief Market Strategist Alfred Goldman at Wells Fargo thinks so too.

It's horrible when saying that we've managed to recover all the losses and are basically break-even is considered good news. But that's where we are at with the S&P 500, as of today.

The recent surges in global stock markets have been spectacular. But will they last? Are we in the throes of a bear market rally (a classic "dead cat bounce") or are the rises actually sustainable? At present the consensus appears to be that they are, and investor psychology has undergone a key sea change in the past six weeks, during which good news has been seized upon as reasons to buy, while bad news has been ignored.