Stock futures are higher in early morning trade, pointing to a similar start for the stock markets.

Today the market begins a heavy week of earnings scheduled, but it will be relatively light in terms of economic data. Undoubtedly, investors will focus on earnings.

At 10:00 a.m. Eastern, Leading Indicators should be released. Consensus calls for a 0.2% increase, up from a 0.1% the month before.

Oil rose toward $53 a barrel today following colder weather in the world's biggest heating oil market, the Northeast U.S. It is also possible the $50 price support spurred a fresh round of investor buying.
The dollar rose against both the yen and the euro today.

In corporate news:

The biggest news item this morning comes from Sun Microsystems Inc. (NASDAQ:SUNW) and Intel Corp. (NASDAQ:INTC). According to sources, Sun will most likely announce a partnership with Intel. Sun will use Intel microprocessors and Intel will endorse Sun Solaris operating system. Sun has scheduled a news conference this morning. While Advanced Micro Devices Inc. (NYSE:AMD) will continue to sell chips to Sun, it will be affected by the deal.

Citigroup Inc. (NYSE:C) announced it will buy ABN AMRO Mortgage Group, an originator and servicer of U.S. prime residential mortgage loans that is a unit of LaSalle Bank Corp and ABN AMRO Bank NV.

Pfizer Inc, (NYSE:PFE) reported quarterly earnings this morning. In the fourth-quarter, Pfizer earned $9.45 billion, or $1.32 per share, compared with $2.73 billion, or 37 cents per share, a year earlier. Excluding special items, EPS were 43 cents per share. Analysts, on average, expected 42 cents, according to Reuters Estimates.

Boeing Co. (NYSE:BA) was downgraded to market perform from outperform at Wachovia Securities.

Also reporting today:
American Express Co. (NYSE:AXP) is expected to report during trading hours. Analysts expect earnings of 77 cents per share.
Texas Instruments Inc. (NYSE:TXN) will report after the close. Analysts are expecting earnings of 38 cents per share.