The markets opened lower after earnings reports from International Business Machines Corp. (NYSE:IBM) and Intel Corporation (NASDAQ:INTC). Both reports were slightly shy of Wall Streets expectations. As those stocks dropped, so did the markets. While down, the markets are only hovering slightly lower with the SPDR S&P 500 ETF (NYSEARCA:SPY) trading at $138.78, -0.31 (-0.22%). Fears from Europe have calmed in the last two days. This was the major reason for the monster rally yesterday.