The Market On Tuesday

At 8:00 a.m. futures are moderately up, oil is up $.80 per barrel, and the dollar is down against the euro, pound, and yen.

Yesterday the market opened with great guns and then folded when Moody's classified Greek debt as junk.

This is the recent trend. The market can start with all the variables in place for gains and then by midday, its squashed by something unexpected.

I was reading a what to do in the event of the much anticipated double dip recession last night, as if this was a forgone conclusion. Could be that's for sure, but weirder things have not happened.

CNN: Stocks set for early bounce

Moody's cut its rating on Greek debt to junk status on Monday.


A report on export and import prices comes out at 8:30 a.m. ET, as does a reading on manufacturing in New York state.


A report on foreign holdings of U.S. Treasurys is slated for release after the market opens.

Reuters: Stock futures rise, tracking the euro

"The stability in the euro is allowing markets to continue this slow grind ahead...We're able to look at the news flow as having already been priced in ahead of some economic data."