Stocks move on oil rebound; Fed meeting begins; Disney sued by tech workers

Stocks (^DJI, ^GSPC, ^IXIC) move up along with the price of oil on indications OPEC and non-OPEC nations may be looking at ways to reduce the glut in crude that has sent the price sinking...dragging equities down with it.

But Kathy Boyle, President of Chapin Hill Advisors, says don't be fooled by these positive market hints.

"We're going to see escallator up, elevator down," she argues.  "That's what happens in bear markets. There is a lot of volatility in bear markets and you'll have these big bumps."

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Strong dollar impacts Dow earnings

Here are some of the stocks the Yahoo Finance team will be watching for you today. It's a big day for earnings from Dow components...and the key phrase is--  the strong dollar.

Procter & Gamble (PG)  The consumer products giant beating second quarter earnings estimates...but revenue came up short. P&G blames the strong dollar for reducing sales by 9% from the same period last year.  And it also took a hit from the deconsolidation of its Venezuelan operations and some brand divestitures.

Johnson and Johnson (JNJ) The story the same at the health care products and pharmaceutical firm,  which topped forecasts on the bottom line but missed on the top line. J&J says the currency issues pulled down its sales by 2.4% from last year...even though domestic sales jumped 8%.

Dupont (DD) Hit repeat. The global sciences company reporting fourth quarter profit topping analysts estimates...while revenue came in light.  Dupont says currency issues knocked an additional 8% off its sales in the period.  In addition, the company is warning difficult global economic conditions in agriculture and slower growth in emerging markets are expected to hurt sales growth for the full year.

Apple (AAPL) The world's biggest company by market value is reporting its fiscal first quarter results after the closing bell today. And of course, the big focus will be on how many iPhones the company sold in the quarter....as reports have been circulating that demand is slowing.  Analysts are looking for iPhone sales of at least 75 million in the holiday period.

AIG shakeup

AIG (AIG) announcing it will spin off its mortgage insurance unit and sell its broker-dealer network.  This comes as part of the changes AIG has been promising shareholders as it fends off activist investor Carl Icahn.  The insurer also announcing it will cut $1.6 billion of costs and return at least $25 billion to shareholders over the next two years.

Some unwelcomed news for Disney (DIS).  While the company celebrates the success of its new Star Wars movie, it is facing class-action lawsuits from two former IT employees who say they were illegally replaced by foreign workers.  Disney says the lawsuits are based on an unsustainable legal theory and are a wholesale misrepresentation of the facts.