1) The initial public offering (IPO) parade continues; in all, four priced, with 3 on the NYSE and another on the Nasdaq:
a) Online food delivery service GrubHub (GRUB) priced 7.4 million shares—more than expected - at $26, above the $23 to $25 range.
b) IMS Health, a healthcare data and consulting services provider, priced 65 million shares at $20, in the middle of the $18 to $21 range.
c) Opower, which provides cloud based software to the utility industry, priced 6.1 million shares at $19, at the high end of the $17 to $19 range.
On the Nasdaq's market, we had Five9 (FIVN), which offers on-demand software that enables cloud-based call centers, priced 10 million shares at $7, below the $9 to $11 price talk.
The IPO market remains strong. However, because "momentum" names were weak in March, and many of the recent IPOs have been classic momentum names in the "cloud computing" and "big data" space, Renaissance Capital IPO's basket of 200 recent IPOs, came off its highs. The IPO started trading in October and moved nearly 20 percent into February before falling back.
2) Earnings: Micron came in with a terrific report. Earnings beat by a wide margin (85 cent profit versus a 76 cent consensus). Sales are up $2 billion year over year, to $4.1 billion. What's the story? Dynamic random access memory (RAM) pricing has improved, and supply seems stable.
3) In Europe, German factory orders rose in February as growth accelerated. In Asia, stocks were mixed.
4) Thanks to the Market Technicians Association for a wonderful evening last night. I emcee'd the Lifetime Achievement Awards, and received a Recognition Award for "steadfast efforts to integrate technical analysis into financial decision making, journalism and reporting." Thanks to my old friend Ralph Acampora for the invite; we had a wonderful evening reminiscing about colorful technicians like Marty Zweig and Joe Granville.
--By CNBC's Bob Pisani