The Market On Thursday

At 6:35 a.m. futures are up, the dollar is down against the euro and pound and is up against the yen. Oil is up to over $73 per barrel.

The reports are cozy at this time of day. One wonders exactly what if anything has changed. Europe is still Europe and insolvency issues like this don't heal overnight.

Pre-market opening data on the first quarter GDP and unemployment is due at 8:30 a.m. Given the volatility and complete unpredictability of the market generally and especially now, who knows what is going to happen.

Look at yesterday with very strong futures in the morning, a nicely positioned dollar, and oil up. Still markets floated lower with the DOW once again below 10K.

Recall that just a short time ago investors were talking like the DOW was on a definitive track to 12K.

CNN: Stocks set for solid bounce

The government's revised reading on first-quarter gross domestic product (GDP) growth is due at 8:30 a.m. ET. GDP is expected to have grown at a 3.3% annualized rate versus the initially reported 3.2% rate.


Also at 8:30 a.m., the Department of Labor will release its weekly jobless claims, which are expected to have fallen to 455,000 last week, down from 471,000 the previous week.


U.S. light crude oil for July delivery gained $2.01 to $73.52 a barrel.