The Market On Wednesday

All kinds of corporations are reporting first quarter earnings today. Futures are down anticipating the primarily wretched news.

You might think those earnings would set the tone for the day. Not so, I suspect it will be Geithner's speech at 1300GMT that does the trick. 1300GMT is 9AM EST, I think.

So if Geithner is able to soothe, charm, and delight, the present position of futures is not relevant.

Do we trust this guy.

On the other hand, if he's judged to be fuzzy, too general, and simplistic, we could very well have a repeat of Monday.

This is the type of economy we are now dealing with. The market's performance (AKA your economic future) is based on one individual's homework grade.

Reuters: Wall Street futures down ahead Morgan Stanley, AT&T

Eyes also on Treasury Secretary Timothy Geithner, who is due to speak at 1300 GMT on the Obama administration's efforts to address the recession.

China's central bank on Wednesday declared the economy to be on the road to recovery...