Stock Futures Look to Continue Bull Run. Stocks to Watch: PWRD, JVA, FRO, DSCO, OGXI, DRYS, COGO

Stocks are moving higher again this morning as the Dow looks to stretch its winning streak into the eight session. Some key data points could serve as a catalyst to keep the Dow and the rest of the market in its winning ways. February consumer price data is set for 8:30am est, while industrial production numbers and consumer sentiment are slated for later this morning. Dow futures are currently up 26 points to 13,198. Nasdaq 100 futures are up 6.25 to 2,718. S&P 500 futures are up 2.50 points to 1,398.

Thanks to a surge in gas prices, consumer prices rose .4%. Core CPI (they strip out gas prices cause they assume we drive Amish buggies around) came in at a modest .1%. Both cam e in under economist expectations so should help fuel the rally higher.

With the recent moves in the market, analysts are starting to warn that some near-term consolidation is almost guaranteed. Plus they worry what happens when the central banks have to pull back. If the timing is off, it could impact the market negatively.

Plus the bullish runs have been on the backdrop that Europe is not actually fixed. They slapped another band-aid on it and continued on their way. Eventually that situation will have to be dealt with. Same with deficit and debt issues domestically and in Asia. But at least the market is running now. Living in the present has its benefits.

Commodities are mixed this morning. Oil prices continue to be range bound as they wait for a catalyst to go sharply higher or lower. Higher would be an Iran-Israel protracted war. Lower would be on the back of an economic slowdown. Nymex futures are trading slightly higher, up 32 cents to just over $105 per barrel.

Gold prices continue to be on shaky ground with the strengthening dollar and overall positive tenor to the economic news. The metal is negative in early trading, down $17.70 to $1641 per ounce.

Stocks to watch today include Perfect World Co., Ltd. (NASDAQ:PWRD), Coffee Holding Co., Inc. (NASDAQ:JVA), Frontline Ltd. (NYSE:FRO), Discovery Laboratories, Inc. (NASDAQ:DSCO), Oncogenex Pharmaceuticals Inc. (NASDAQ:OGXI), Dryships Inc. (NASDAQ:DRYS) and Cogo Group, Inc. (NASDAQ:COGO).

Perfect World Co., Ltd. (NASDAQ:PWRD) is up 30.04% in pre market trading at $16.27. Perfect World stock is rallying this morning on fourth quarter results. Revenue for the quarter was $123.4 million and the company earned $0.94 per share. PWRD has traded close to 70 thousand shares this morning and trades 778 thousand shares a day on average. The company has a market cap of 577.22 million.

Coffee Holding Co., Inc. (NASDAQ:JVA) continues to trade higher and is up another 4% in pre market trading at $14.20. JVA shares have been in an upward trend since announcing quarterly results on late last week. JVA trades about 560 thousand shares on average, but has been trading millions of shares a day in its recent rally. The company has a market cap of 87.17 million.

Frontline Ltd. (NYSE:FRO) is up 4.85% in pre market trading at $6.48. FRO has traded 62 thousand shares this morning and trades 1.8 million shares a day on average. FRO shares have jumped over $1 a share in the past week. The company has a market cap of 481.16 million.

Discovery Laboratories, Inc. (NASDAQ:DSCO) has fallen more than 15% in pre market trading at $2.97. DSCO has traded over 70 thousand shares this morning and trades 1.3 million shares a day on average. Discovery Laboratories stock is taking a hit this morning after the company announced a public offering of common stock. The company has a market cap of 85.75 million.

OncoGenex Pharmaceuticals Inc. (NASDAQ:OGXI) is down 17.79% in pre market trading at $14.33. OGXI shares are plummeting this morning on news of a public offering of stock. The stock trades around 60 thousand shares a day on average, but will likely pass that today. The company has a market cap of 169.94 million.

DryShips Inc. (NASDAQ:DRYS) is up 2.65% in pre market trading at $3.48. DRYS trades 9.2 million shares a day on average. DRYS shares saw a nice jump yesterday as it moved $0.25 higher. The company has a market cap of 1.27 billion.

Cogo Group, Inc. (NASDAQ:COGO) is up 101.03% in pre market trading at $3.90. COGO shares are soaring today after the company beat Wall Street estimates in its latest quarterly results and the CEO plans to buy about 30% of the company. The company has a market cap of 64.23 million.