Well after the bell, and late into the night, Sun Microsystems (SUNW) announced it was cutting "4,000 to 5,000 jobs in an effort to return to consistent profitability". This is yet another example of the wave of merger related layoffs occurring around the nation.- Read Article

Oil prices declined in hopes for a peaceful resolution to the Iranian nuclear program. Then tonight the Iranian government said that a U.S. offer for face-to-face talks was "a propaganda move."- Read Article

The market managed an oversold bounce, and ended the day;

DJIA: 11168.31, up 73.88
S&P 500: 1270.09, up 10.25
Nasdaq Composite: 2178.90, up 14.10

The market celebrated the U.S. offer to enter into multi-lateral talks with Iran over its nuclear program, but after tonights news, we may see a reversal of today's fortunes.

Also, the market is still jolding out hopes that the Federal Reserve may be near the end of its series of interest rate hikes. In the recent release of the fed minutes, the meeting revealed policy makers are uncertain about the future course of rates.