Call it a sign of the times, but according to a Twitter survey the percentage of respondents giving up swearing for Lent plummeted this year. It's a lot easier to give up chocolate and that speaks volumes because we love chocolate. Let's face it this is a frustration country.

Another Frustration & Fear

The latest power grab isn't getting the kind of attention it should, yet there are few things as ubiquitous as the internet. The fact that it wields so much power as it carries our inner thoughts and fears and goals and dreams. The current chair of the FCC was actually against the idea until White House arm-twisting got him to see the light. Now that same light dims for so many people as this isn't an area we need Big Brother to control any further.

"What a revolution all this would make in industrial projects, and what a revolution it would make in our roads- no one can obtain title deeds in the blue sky or right of way to the milky way, it will be free alike to the poor man, as well as to the wealthy autocrat, a universal byway of communication between the countries of the whole world."

Thomas Scott Baldwin

Pioneer in ballooning and inventor of Red Devil bi-plane

While Baldwin was talking about the open skies, the same thinking can be applied to the information super-highway which has taken many poor people from many countries and turned them into billionaires and job creators.

Now the Administration wants to make the Internet a public utility and that will not only kill the spirit of the net but according to the American Action Forum will also cut 174,000 jobs through 2019.

The internet was a crude government project brought to life by the private sector...for an administration that likes to take the chips from all the players and then redistribute, I want to remind everyone of Baldwin's comments on no one obtaining title deeds –including the federal government.

Today's Session

Once again the market will begin the session with hesitation. Earnings reactions are decidedly negative, even a big beat from Wal-Mart (WMT) is not helping that stock or the broader market.

(Moreover, the massive wage increase isn't moving the stock but seems like a brilliant move to fend off the vultures that see corporate balance sheets as part of the public domain. The company also increased its annual dividend to $1.96 from $1.92.) The company's same store sales improvement of 1.5% is the best in a long time; probably more to do with cheap gas but it’s encouraging.

Across the Atlantic it looks like Germany won’t budge and that's great news, although the market still wants to see resolution.

Let's keep our powder dry this morning.

The following are some notable companies that reported earnings after the close yesterday and this morning.