Motorola shares are on the rise, up 8% on Monday alone. The buzz is all about the upcoming release of the new Android phone! Motorola has gone all out on this second release of the Android, and Wall Street thinks it's going to be a hit.

The stock market closed down today, after an impressive run by the bulls yesterday. The DOW closed down 50.71 points, but still above 10,000; NASDAQ closed down 12.85, and the S & P lost 6.85 points. All three major indexes were down just over a half percent.

Wall Street rallied last week, based on better than expected earnings from companies like Intel, JP Morgan Chase, Harley Davidson, Goldman Sachs, and Google. The DOW topped the important 10,000 point of resistance on Thursday, before retreating on Friday as earnings from businesses like Bank of America and GE disappointed. Were the disappointing earnings from giant businesses like GE and B of A a reality check or an anomaly during this earnings season?

Raj Rajaratnam, founder of the Galleon Group, has been arrested and charged along with five others. Prosecutors indicated that at issue is a $20 million insider-trading case.

As earnings reports continue to come in this week, beating most analysts’ expectations, the DOW is quickly approaching that critical 10,000 mark. It is currently at 9980.10, just 20 points short of that magic number.

Even as the rest of the world continues to suffer the effects of the worst economic downturn since the great depression, workers at 23 top investment banks, hedge funds, asset managers and stock and commodities exchanges can expect to be paid $140 billion in pay and bonuses this year.

Wall Street is sending mixed messages this morning. The DOW is down slightly with a worse than expected earnings report from Johnson and Johnson. The yield on the 10 year bond is down from the close on Friday, which has current mortgage rates trending down as well.

Monday the Federal offices and post offices will be closed in celebration of Columbus Day. But, with the exception of the bond market, Wall Street will be up and running as if it was any other weekday of the year. In addition to a plethora of important earnings reports, there is a lot more economic news scheduled for this week that can potentially move the markets.

Arthur Levitt, who is a board member of Bloomberg says "Too big too fail" approach toward banks is a cancer, eating our economy. He said Paulson was right to let Lehman Brother to fail. If he kept Lehman, he would have needed to keep bank.

According to the WSJ, securities firms are set to log their most lucrative financial performance since the credit crisis erupted. The article mentions that the usual suspects such as JP Morgan, Goldman Sachs, Morgan Stanley and Bank of America are banking huge profits.

IAS360 Indicates Some Return To Normalcy In Nation’s Hardest Hit Markets

As the bank stress test results continue to be leaked slowly, the news out today increases the total number of banks that reportedly need capital to 10 out of the 19. Since bank stocks absolutely ripped on the incredibly bullish news yesterday that 4 banks may need capital, the S&P is bound to hit 1450 today.