Stocks Up a Few Measly Points

Among the misses: Target sales fell 6.2% vs. expectations for a 5.6% decline, and Limited Brands(LTD Quote), Wet Seal(WTSLA Quote) and The Children's Place(PLCE Quote) all reported double-digit declines in same-store sales, worse than expectations for 8%-9% declines.

In other news, insurer American International Group (AIG Quote) is in discussions -- again -- with MetLife (MET Quote) about a deal for all or part of AIG's foreign life-insurance unit American Life Insurance, reports say. AIG shares were down 27.6%, or $3.62, at $9.48.

Meanwhile, Citigroup(C Quote) said CFO Edward "Ned" Kelly will become vice chairman and take on broader responsibilities for strategy and M&A. Many believe Kelly is being groomed as an eventual successor to CEO Vikram Pandit, TheStreet.com reports. Shares rose 1.9% to $2.67.

Commodities were mixed. Crude oil futures rose 27 cents to $60.41 while gold climbed $6.90 to $916.20. The dollar gained strength vs. the yen but weakened against the pound and euro.

Longer-dated Treasuries were falling in price, rising in yield after an $11 billion auction of 30-year bond notes with a bid-to-cover ratio of 2.36 - meaning investors offered 2.36 for every dollar of debt available-- and a high yield at 4.3%. The 10-year was losing 20/32 to yield 3.39%, while the 30-year edged down 1-10/32, yielding 4.27%.

Stocks overseas were mostly higher. In Europe, London's FTSE 100 and the DAX in Frankfurt rose 0.5% and 1.3%, respectively. In Asia, the Nikkei in Japan lost 1.4%, but the Hang Seng in Hong Kong advanced 0.4%.