US Mid-Morning Recap by TradeTheNews Staff - Several of the Dow and S&P mainstays reported before the open and generally their share prices are weighing on the Indices. WYE â2% MRK â1.25% PG â1% K â0.25% CL â0.2% MMM â2.5% UPS â3.7% Other names trading heavy post earnings include: PCL â4.7% VLTR â13% HW â3.5% JBLU â2.3% LXK â6% MAN â5.5% CME â3.5% Steel stocks are posting nice gains after a strong earnings report from US Steel. X +3.5% NUE +2.5% STLD +2.7% AKS +4.5% Other names moving higher after reporting include: CNET +8% CNW +6% KRON +8% ZMH +3.5% BKC +1.2% KCI +3.2% ITW +7% BDK +3.9%. Shares of Motorola +6% have ticked to their highest levels since lowering guidance in early January, after it was reported that Carl Icahn is attempting to join their Board. - March crude is back above $55 up 2% on the day on continued colder temperatures in the North East and additional production cuts from Saudi Arabia. Higher oil and a strong earnings report from WFT +5% have the Oil Service Index +2% among todayâs leading groups. Copper futures are up 1% while Feb gold is up fractionally at $645.10. US Treasuries are posting modest gains ahead of tomorrowâs FOMC rate decision and the release of Q4 GDP. 30-year +7/32 at 4.979%; 10-year +4/32 at 4.873%; 2-year +1/32 at 4.958% The Yen has seen some firming across the board after the German Finance Minster confirmed the Yen will be discussed at the upcoming G7 meeting. EUR/JPY down 21 pips at 157.53 while the USD/JPY is down 16 pips at 121.56.