It seems the situation in Ukraine is worse by the day, no ceasefire except the Ukrainian forces surrendering in a key strategic (but small) town in Eastern Ukraine after being bombarded by Pro-Russian rebel forces.
In Europe all eyes are on the ECB and whether they extend liquidity to Greece, pull it entirely, cut it or add to it, that's pretty much what the market has been in a holding pattern about for most of the night.
The F_O_M_C minutes are the other big event at 2 p.m. today.
The Bank of Japan left policy unchanged causing a little volatility overnight, but mostly keeping a choppy zone in effect.
In Asia it's the Lunar New Year with Chinese, Taiwanese and South Korean markets closed.
Futures are feeling some pressure right now...
We'll look for the news and the reaction, but I think more telling are the underlying conditions and the Leading Indicators which are finally moving, some quite sharply yesterday.
More right after the open.
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