Today started out higher for stocks, but then the US Peso came into play. Shares have been the beneficiary of a weakening dollar, but then the currency bears started to cover the position. There is talk that some foreign central banks intervened to halt the rise of their own currencies, although whether or not that was the case may not be known.

Here were today's unofficial closing bell levels:

Dow 9,867.81 -104.37 (-1.05%)
S&P 500 1,066.98 -12.62 (-1.17%)
Nasdaq 2,141.85 -12.62 (-0.59%)

Top Analyst Calls
Top Stock/Market Rumors
Top Day Trader Alerts

BioCryst Pharmaceuticals (NASDAQ: BCRX) was on the move Tuesday after inking letters of intent with three partners, who will take the lead on stockpiling, marketing, and distribution efforts for the company's influenza treatment in four countries. Marketing and distribution will be contingent upon local regulatory approval, but all three partners will immediately begin discussing stockpiling opportunities with the appropriate government officials.

Moksha8 Pharmaceuticals will be BioCryst's representative in Brazil and Mexico, which together account for 75% of the Latin American pharmaceutical market. Meanwhile, NT Pharma Co. is the company's Chinese partner, and Neopharm Group is taking the reins in Israel.

This was one of those low-report days for economic data. We had two current and one former DJIA components report earnings and the earnings reactions today were only so so. Today's action felt like a long week that ended the start of earnings season where traders just wanted that closing bell to come. The DJIA and S&P were so mixed throughout the day that knowing where the markets were was a guess more than a feel.

Here are today's unofficial closing bell levels:

Dow 8,743.94 +32.12 (0.37%)
S&P 500 940.38 -0.36 (-0.04%)
Nasdaq 1,886.61 +1.58 (0.08%)

Top Analyst Upgrades/Downgrades

I remember Toronto during SARS. As one of the harder hit areas, it was not a happy place. It was the end of winter, but that miserable, cold winter just didn't want to end. People walked the streets in a gloomy haze, afraid to take the subway and giving dirty looks to anyone brazen enough to cough in public. Worse, I couldn't even visit a friend in the hospital. All things considered though, in global pandemic terms, it was over relatively quickly. Let's hope swine flu will be the same.

In the meantime, let's put on our investors hats and see what's in store for some stocks:

Travel and tourist stocks
This is one of the worst hit areas, especially airlines, as people may cancel their travel plans. For example, AMR Corp. (NYSE: AMR) traded over 9 percent lower an hour after the open. Royal Caribbean Cruises (NYSE: RCL) was down over 15 percent. In fact UBS downgraded these airlines and hotels this morning: AMR, Continental Airlines (NYSE: CAL), Host Hotels and Resorts (NYSE: HST), Lasalle Hotel Properties (NYSE: LHO), Marriott (NYSE: MAR), United Airlines (NASDAQ: UAUA), US Airways (NYSE: LCC). Carnival Cruise Lines (NYSE: CCL) also declined considerably. Best to stay away from the sector.

MOST NOTEWORTHY: The ethanol sector, BT Group, AMR Corp and Kyphon were today's noteworthy downgrades:

• Friedman Billings downgraded Aventine Renewable Energy (NYSE: AVR) and Pacific Ethanol Inc (NASDAQ: PEIX) to Underperform and VeraSun Energy Corporation (NYSE: VSE) was downgraded to Market Perform from Outperform. The firm said the ethanol market has become increasingly challenging as spot market prices have declined by 30% in the past few months and expect pressure to remain through 2008 as the industry's growing pains continue.
  
• Morgan Stanley downgraded shares of BT Group (NYSE: BT) to Underweight from Equal Weight on valuation and regulation uncertainty ahead of Ofcom's first consultation document next week.
  
• AMR Corporation (NYSE: AMR) was downgraded to Sell from Neutral at Goldman to reflect the company's U.S. exposure as they expect the U.S. economy to slow.
  
• Banc of America downgraded shares of Kyphon Inc (NASDAQ: KYPH) to Neutral from Buy on valuation as the spread on the acquisition by Medtronic Inc (NYSE: MDT) has now narrowed.

OTHER DOWNGRADES:

• Pepsi Bottling Group Inc (NYSE: PBG) was downgraded to Market Perform from Outperform at Bernstein.
  
• Oppenheimer downgraded Signature Bank (NASDAQ: SBNY) to Neutral from Buy.
  
• ThinkEquity downgraded BioCryst Pharmaceuticals (NASDAQ: BCRX) to Accumulate from Buy.
  
• Merrill Lynch downgraded Luxottica Group (NYSE: LUX) to Neutral from Buy.