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Pre-Market Trading – Swiss Franc WOW!

UPDATED 7:15 am ET

STOCKS – Global stocks swung from gains to losses after Switzerland’s  central bank unexpectedly gave up its minimum exchange rate of 1.20 per euro, sending the Swiss franc to a record against the euro and roiling equity markets.
BONDS – Treasuries advanced, reversing an earlier decline, as investors sought the relative safety of U.S. debt.
COMMODITIES – Natural gas extended gains after the biggest surge in 11 months as a blast of Arctic weather predicted to swoop into the U.S. signaled increased demand after a mild December.
CURRENCIES – The Swiss National Bank’s surprise decision to abandon the franc’s cap against the euro, two days after an official reaffirmed it would remain a pillar of policy, roiled currency markets.
ECONOMIC DATA –  US  PPI m/m and Unemployment Claims at 8:30, Philly Fed Manufacturing Index at 10:00, Natural Gas Storage at 10:30, German Buba President Weidmann Speaks at 11:15 ET.