Housing Starts, PPI, FHA to Increase Upfront Insurance Fee

Equity futures are sharply lower this morning as Bank of America reported it had lost $5.2 billion in the fourth quarter. The Republican upset in the Massachusetts election may also be causing some investor anxiety as the Democrats no longer have 60 seats in the Senate, which makes the future of healthcare reform more uncertain.

90 minutes before the bell, the benchmark S&P 500 is down 4.40 points to 1,141.30 and futures on the Dow are off 33 points to 10,637.

Weak commodities confirm that that risk is off the table. WTI Crude oil is down $1.10 to $77.92 per barrel and Spot Gold is $10.00 lower to $1,130.00.

Key Events Today:

8:30 â€