Stocks holiday from reality on Friday has come to an abrupt end with indices starting the week lower as traders have come to the realization that political turmoil in Ukraine and Gaza aren’t going away quickly and can’t just be swept under the rug and ignored. Calls for sanctions against Russia have grown over the weekend as news reports from the crash site and world reaction have dominated the headlines. This has pushed European indices lower to start the week with Italy’s MIB leading the way downward on weak economic news. Gold has also started to rebound again with some capital going defensive although grains have not responded to higher Ukraine tensions. While political concerns weigh on stocks, on the other side it’s a light day for earnings and of the reports that have come out today most were ho-hum affairs. This indicates that in some ways stocks need the support of strong earnings. Without a boost from earnings stocks could fall under their own weight from these lofty heights, a risk that could become particularly important in a few weeks when earnings season ends and corporate news dries up. For now though, we could still see a lot of earnings driven action this week with a lot of big technology and momentum names reporting like Netflix tonight, Apple tomorrow and Facebook on Wednesday. Corporate News SunTrust Banks $0.81 vs street $0.72 Economic News Economic reports released overnight and this morning include: US Chicago Fed 0.12 vs street 0.18 Italy industrial orders (2.5%) vs street 2.3% Germany producer prices (0.7%) as expected Economic reports due later today include: Netflix, Texas Instruments and Canadian National report earnings after 4:00 pm EDT. There are no major economic announcements or speeches for North America today.