The Market On Friday

One of Obama's larger problem will be trying to reign in some of the new financial strategies that were at the center of the great recession.

He faces stiff resistance from the GOP and like minded financier class people. GOP lately stands for "Got 0 Plans." This is the main point, criticize, but please come up with something. Don't pretend to tell us things are fine as they are.

All sorts of economic data will be out today. Investors will be parsing the info for the tiniest of changes that might suggest improvement over the steady stream of bad news.

Right now futures are down, so the market is set to open lower. Volatility is still in play and no one knows if the DOW will continue and drop 300 or gain 100 today.

Reuters: Stock futures signal dip; eyes on Accenture

U.S. stocks rallied for a second straight day on Thursday, taking the Nasdaq back into positive territory for the year-to-date, on increasing optimism that the economy's worst days are past after the government reported data that was less dire than expected.

Reuters: Long, bumpy road ahead for Obama financial reforms

New financial instruments were also invented without much regulation of either the risk-taking involved or the mechanics of trading them. While poor credit controls in the sub-prime home mortgage market contributed to the U.S. housing boom, the lack of regulatory supervision of new instruments, such as collateralized debt obligations (CDOs) and credit default swaps (CDS), may have exacerbated the property market crash.