We are an hour and a half into the session and here's what I see...

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We have a mostly quiet start to the day as the S&P 500 (SPX) and Dow Jones Industrial Average (DJIA) mull around breakeven. A look to the sector action shows most groups are quiet too. The biggest move comes from gold as it and the Amex Gold Bugs Index (HUI) gain around one percent. The SPDR Homebuilders (XHB) is the biggest decliner with a loss of just under one percent.

In Friday's closing post I talked about a potential lack of conviction ahead of this week's FOMC announcement and the monthly employment report. So far that seems to be true. But, the day is still young enough to prove me wrong.

Here are a few of the analyst upgrades and downgrades that I thought were worth noting this morning...

Upgrades
• Altera (ALTR)
• Big Lots (BIG)
• Credit Suisse (CS)
• LM Ericsson (ERIC)
• US Airways (LCC)
• Masimo (MASI)
• Marvell (MRVL)
• National City (NCC)
• Petro-Canada (PCZ)
Downgrades
• American Intl (AIG)
• bebe stores (BEBE)
• Continental Air (CAL)
• LM Ericsson (ERIC)
• Goodyear Tire (GT)
• Kohl's (KSS)
• McMoRan Expl (MMR)
• Noble Corp (NE)
• UAL Corp. (UAUA)
• Williams-Sonoma (WSM)
• Sealy (ZZ)