The Market On Wednesday

There was a sixth game in the NBA finals last night. Unfortunately the Celtics didn't even bother to show up for the game. Maybe they had to watch Obama threaten BP.

At 7:45 a.m. futures are slightly down. The talk is of a series of reports and data due out today which will add to or subtract from how investors perceive the strength of the economy. Who knows but I am curios to see how it plays out. Obviously if the reports are stellar the market could respond in kind. However the x factor, the unknown ameliorating problem, could always arise.

Obama is allegedly going to threaten BP. He wants BP to pony up for ruining the Gulf of Mexico and ruining the way of life for millions of Gulf Coast residents. Apparently saying I'm sorry isn't enough even in Obama's mind. The President known for his disdain for intense demand and more for his penchant for compromise may not be the best negotiator for this nightmare. We need Joseph Stalin.

CNN: Stocks set for shaky start

A report on housing starts and building permits comes out at 8:30 a.m. ET. Also due out then is a reading on inflation at the wholesale level.


At 9:15 a.m. ET, a report on capacity utilization and industrial production is due to be released.

Reuters: Stock futures signal losses

Energy stocks will be in the spotlight as U.S. President Barack Obama, seeking to demonstrate strong leadership on the Gulf of Mexico oil spill, will demand on Wednesday that BP set aside billions of dollars to pay damages from the catastrophe.