Upgrades and downgrades before the market open:

Market news

2 January 2013

Upgrades and downgrades before the market open:

Bank of America (BAC) added to Conviction Buy List at Evercore.
Facebook (FB) resumed with a Neutral at Cowen & Co.
Facebook (FB), positive comments at BofA/Merrill; resumed Buy rating and $31 target.
Google (GOOG) was reiterated at Perform at Oppenheimer. Target wad lowered to $765 from $715.

Before the bell: S&P futures +1.83%, Nasdaq futures +2.18%

U.S.: Manufacturing PMI, December 54.0 (forecast 53.2)

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